Bank of America Begins Coverage on Talen Energy (NASDAQ:TLN)

Bank of America started coverage on shares of Talen Energy (NASDAQ:TLN) in a research note released on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $253.00 price target on the utilities provider’s stock.

A number of other research firms also recently issued reports on TLN. UBS Group raised their price objective on shares of Talen Energy from $242.00 to $269.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Barclays raised their price objective on shares of Talen Energy from $245.00 to $293.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. JPMorgan Chase & Co. began coverage on shares of Talen Energy in a report on Thursday, October 17th. They set an “overweight” rating and a $268.00 price objective for the company. Guggenheim raised their price objective on shares of Talen Energy from $219.00 to $246.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Daiwa Capital Markets initiated coverage on shares of Talen Energy in a research note on Wednesday, December 4th. They issued a “buy” rating and a $248.00 target price for the company. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $232.00.

Talen Energy Stock Performance

NASDAQ TLN opened at $235.85 on Monday. Talen Energy has a 52-week low of $64.51 and a 52-week high of $258.03. The company has a 50-day simple moving average of $216.08 and a 200 day simple moving average of $165.28. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10. The company has a market capitalization of $11.99 billion, a PE ratio of 12.63 and a beta of 1.70.

Insider Activity

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $204.35, for a total value of $999,988,155.45. Following the completion of the transaction, the insider now directly owns 6,475,107 shares in the company, valued at approximately $1,323,188,115.45. This trade represents a 43.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Talen Energy

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in Talen Energy during the third quarter valued at approximately $29,464,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in Talen Energy during the third quarter valued at approximately $7,967,000. Guidance Capital Inc. bought a new stake in Talen Energy during the third quarter valued at approximately $348,000. Mcdaniel Terry & Co. bought a new stake in Talen Energy during the third quarter valued at approximately $371,000. Finally, Spirit of America Management Corp NY bought a new stake in Talen Energy during the third quarter valued at approximately $214,000. 0.38% of the stock is currently 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.