Talen Energy (NASDAQ:TLN) Price Target Raised to $470.00

Talen Energy (NASDAQ:TLN) had its price objective increased by Scotiabank from $463.00 to $470.00 in a report issued on Wednesday morning, Marketbeat.com reports. The brokerage currently has a sector perform rating on the utilities provider’s stock.

Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group assumed coverage on shares of Talen Energy in a research report on Thursday, June 18th. They issued a “buy” rating and a $499.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. BNP Paribas Exane assumed coverage on shares of Talen Energy in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price target on the stock. Morgan Stanley restated an “overweight” rating and issued a $508.00 price objective on shares of Talen Energy in a report on Wednesday, June 24th. Finally, Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Talen Energy currently has an average rating of “Moderate Buy” and an average price target of $475.08.

Talen Energy Stock Up 1.1%

Shares of NASDAQ:TLN opened at $372.37 on Wednesday. The business has a 50-day moving average price of $378.30 and a 200 day moving average price of $362.26. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. The company has a market capitalization of $17.84 billion, a price-to-earnings ratio of -555.77 and a beta of 1.82. Talen Energy has a 12-month low of $300.00 and a 12-month high of $451.28.

Insider Buying and Selling

In related news, Director Gizman I. Abbas sold 2,600 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the transaction, the director directly owned 2,606 shares in the company, valued at $990,280. This trade represents a 49.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.78% of the stock is owned by company insiders.

Institutional Trading of Talen Energy

Several hedge funds have recently made changes to their positions in TLN. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Talen Energy by 1,526.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,054 shares of the utilities provider’s stock worth $9,766,000 after acquiring an additional 24,452 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Talen Energy by 11.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 45,250 shares of the utilities provider’s stock valued at $16,962,000 after purchasing an additional 4,770 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in Talen Energy by 400.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 14,105 shares of the utilities provider’s stock worth $5,287,000 after purchasing an additional 11,287 shares during the period. Sanctuary Advisors LLC boosted its stake in Talen Energy by 116.8% during the 4th quarter. Sanctuary Advisors LLC now owns 6,454 shares of the utilities provider’s stock worth $2,419,000 after purchasing an additional 3,477 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in Talen Energy by 16.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 35,254 shares of the utilities provider’s stock worth $13,215,000 after purchasing an additional 4,885 shares during the last quarter. Institutional investors and hedge funds own 0.38% of the company’s stock.

About Talen Energy

Talen Energy Inc is an independent power producer that develops and operates a diversified portfolio of thermal and renewable generation facilities across the United States. The company supplies wholesale electricity and related services to utilities, large industrial customers, and power marketers, participating actively in regional markets such as PJM Interconnection and the Electric Reliability Council of Texas (ERCOT). Talen’s asset base comprises a mix of natural gas-fired, coal-fired and nuclear generation, supplemented by battery storage and other flexible resources designed to support the evolving needs of the grid.

Established in December 2015 through the combination of the competitive generation businesses previously held by two major utility groups, Talen Energy was structured as a standalone, publicly traded entity on the NASDAQ stock exchange (TLN).