Talen Energy (NASDAQ:TLN) Director Gizman Abbas Sells 2,600 Shares

Talen Energy Corporation (NASDAQ:TLN) Director Gizman Abbas sold 2,600 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the transaction, the director owned 2,606 shares of the company’s stock, valued at approximately $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Talen Energy Stock Up 0.8%

TLN stock opened at $409.81 on Thursday. 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 firm has a 50 day simple moving average of $361.45 and a 200-day simple moving average of $358.45. The company has a market capitalization of $18.61 billion, a P/E ratio of -611.65 and a beta of 1.80. Talen Energy Corporation has a twelve month low of $255.50 and a twelve month high of $451.28.

Institutional Trading of Talen Energy

A number of institutional investors and hedge funds have recently modified their holdings of TLN. Ritholtz Wealth Management boosted its holdings in shares of Talen Energy by 3.6% in the 1st quarter. Ritholtz Wealth Management now owns 1,045 shares of the utilities provider’s stock valued at $334,000 after buying an additional 36 shares during the period. Daiwa Securities Group Inc. raised its stake in Talen Energy by 5.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 671 shares of the utilities provider’s stock worth $252,000 after acquiring an additional 36 shares during the period. Compound Planning Inc. raised its stake in Talen Energy by 4.7% during the fourth quarter. Compound Planning Inc. now owns 841 shares of the utilities provider’s stock worth $315,000 after acquiring an additional 38 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its holdings in Talen Energy by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 10,223 shares of the utilities provider’s stock worth $3,832,000 after acquiring an additional 39 shares during the last quarter. Finally, Values First Advisors Inc. lifted its holdings in Talen Energy by 4.7% in the first quarter. Values First Advisors Inc. now owns 979 shares of the utilities provider’s stock worth $312,000 after acquiring an additional 44 shares during the last quarter. 0.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TLN shares. Barclays boosted their target price on shares of Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. The Goldman Sachs Group assumed coverage on shares of Talen Energy in a research report on Thursday. They set a “buy” rating on the stock. Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Raymond James Financial reissued an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a report on Monday, April 27th. Finally, Morgan Stanley restated an “overweight” rating and set a $499.00 price objective on shares of Talen Energy in a research note on Thursday, May 21st. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $448.58.

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).