Talen Energy (NASDAQ:TLN) Sets New 52-Week High – Time to Buy?

Talen Energy Corporation (NASDAQ:TLN)’s share price reached a new 52-week high on Monday . The stock traded as high as $286.38 and last traded at $283.09, with a volume of 466745 shares traded. The stock had previously closed at $277.16.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TLN shares. Morgan Stanley began coverage on Talen Energy in a report on Wednesday, March 12th. They set an “overweight” rating and a $243.00 price target on the stock. Raymond James initiated coverage on shares of Talen Energy in a research report on Friday. They issued an “outperform” rating and a $314.00 price target for the company. Barclays cut 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. JPMorgan Chase & Co. reduced their price target on Talen Energy from $295.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Finally, Daiwa Capital Markets set a $200.00 target price on shares of Talen Energy in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $246.33.

Talen Energy Price Performance

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 stock’s 50-day moving average price is $229.94 and its 200 day moving average price is $219.02. The firm has a market cap of $12.78 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 2.70 and a beta of 1.78.

Talen Energy (NASDAQ:TLN) last posted its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.82 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.35). The firm had revenue of $390.00 million during the quarter, compared to analyst estimates of $556.93 million. Talen Energy had a net margin of 50.48% and a return on equity of 8.59%. Equities research analysts predict that Talen Energy Corporation will post 15.94 earnings per share for the current year.

Hedge Funds Weigh In On Talen Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Talen Energy by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider’s stock valued at $964,302,000 after purchasing an additional 256,414 shares in the last quarter. Fred Alger Management LLC raised its holdings in shares of Talen Energy by 56.3% in the 1st quarter. Fred Alger Management LLC now owns 1,492,145 shares of the utilities provider’s stock worth $297,937,000 after buying an additional 537,398 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Talen Energy during the 4th quarter worth approximately $239,984,000. Lone Pine Capital LLC boosted its stake in Talen Energy by 27.2% in the 4th quarter. Lone Pine Capital LLC now owns 1,089,380 shares of the utilities provider’s stock valued at $219,477,000 after buying an additional 233,165 shares in the last quarter. Finally, Invesco Ltd. grew its position in Talen Energy by 32.8% in 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. 0.38% of the stock is owned by institutional investors.

About Talen Energy

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.