Talen Energy (NASDAQ:TLN) Trading Up 4.9% – Still a Buy?

Talen Energy Corporation (NASDAQ:TLN) rose 4.9% during trading on Monday . The company traded as high as $195.47 and last traded at $183.01. Approximately 571,304 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 1,126,945 shares. The stock had previously closed at $174.40.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TLN. JPMorgan Chase & Co. decreased their target price on shares of Talen Energy from $295.00 to $265.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Evercore ISI initiated coverage on Talen Energy in a report on Friday, February 21st. They issued an “outperform” rating for the company. UBS Group upped their price target on shares of Talen Energy from $242.00 to $269.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Daiwa Capital Markets set a $200.00 target price on shares of Talen Energy in a research note on Wednesday, March 5th. Finally, Barclays reduced their target price on shares of Talen Energy from $293.00 to $282.00 and set an “overweight” rating for the company in a research report on Tuesday, March 4th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $241.09.

Talen Energy Stock Up 11.4 %

The company has a market capitalization of $9.26 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 2.70 and a beta of 1.93. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07. The firm has a 50 day moving average price of $210.47 and a two-hundred day moving average price of $196.03.

Hedge Funds Weigh In On Talen Energy

Several hedge funds and other institutional investors have recently modified their holdings of TLN. Vanguard Group Inc. lifted its position in Talen Energy by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider’s stock worth $964,302,000 after purchasing an additional 256,414 shares during the period. William Blair Investment Management LLC purchased a new position in Talen Energy in the 4th quarter worth about $239,984,000. Lone Pine Capital LLC raised its holdings in Talen Energy by 27.2% during the 4th quarter. Lone Pine Capital LLC now owns 1,089,380 shares of the utilities provider’s stock worth $219,477,000 after buying an additional 233,165 shares during the period. Fred Alger Management LLC boosted its holdings in shares of Talen Energy by 152.9% in the fourth quarter. Fred Alger Management LLC now owns 954,747 shares of the utilities provider’s stock worth $192,353,000 after buying an additional 577,257 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Talen Energy by 32.8% during the fourth quarter. Invesco Ltd. now owns 652,478 shares of the utilities provider’s stock valued at $131,455,000 after acquiring an additional 161,269 shares during the period. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Company Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.