Talen Energy (NASDAQ:TLN) Coverage Initiated by Analysts at Bank of America

Bank of America started coverage on shares of Talen Energy (NASDAQ:TLNFree Report) in a report published on Monday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $253.00 target price on the utilities provider’s stock.

Other equities analysts have also recently issued reports about the company. Daiwa Capital Markets started coverage on Talen Energy in a research report on Wednesday, December 4th. They set a “buy” rating and a $248.00 target price for the company. Guggenheim upped their price objective on shares of Talen Energy from $219.00 to $246.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. initiated coverage on shares of Talen Energy in a research note on Thursday, October 17th. They issued an “overweight” rating and a $268.00 price target for the company. Oppenheimer raised their price objective on shares of Talen Energy from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, UBS Group upped their target price 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. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $232.00.

Check Out Our Latest Report on Talen Energy

Talen Energy Stock Performance

Talen Energy stock opened at $230.85 on Monday. The firm’s 50 day simple moving average is $215.28 and its 200 day simple moving average is $163.88. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07. Talen Energy has a 1-year low of $64.51 and a 1-year high of $258.03. The firm has a market capitalization of $11.74 billion, a PE ratio of 12.36 and a beta of 1.70.

Insiders Place Their Bets

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $204.35, for a total transaction of $999,988,155.45. Following the completion of the sale, the insider now directly owns 6,475,107 shares in the company, valued at approximately $1,323,188,115.45. This represents a 43.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP lifted its position in Talen Energy by 170.6% during the fourth quarter. Allworth Financial LP now owns 184 shares of the utilities provider’s stock valued at $37,000 after buying an additional 116 shares during the period. Geneos Wealth Management Inc. bought a new stake in Talen Energy during the fourth quarter worth about $39,000. BNP Paribas Financial Markets purchased a new stake in Talen Energy in the third quarter worth about $36,000. Empowered Funds LLC bought a new position in shares of Talen Energy during the fourth quarter valued at approximately $42,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Talen Energy by 458.0% during the fourth quarter. First Horizon Advisors Inc. now owns 452 shares of the utilities provider’s stock valued at $91,000 after purchasing an additional 371 shares during the last quarter. Institutional investors own 0.38% of the company’s stock.

About Talen Energy

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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.

Further Reading

Analyst Recommendations for Talen Energy (NASDAQ:TLN)

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