Talen Energy Corporation (NASDAQ:TLN) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Talen Energy Corporation (NASDAQ:TLN) have received an average rating of “Moderate Buy” from the thirteen brokerages that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $476.4545.

Several research analysts recently issued reports on TLN shares. The Goldman Sachs Group assumed coverage on shares of Talen Energy in a research note on Thursday, June 18th. They set a “buy” rating and a $499.00 target price on the stock. Raymond James Financial reissued an “outperform” rating and issued a $457.00 price target on shares of Talen Energy in a research report on Monday, April 27th. Barclays cut their price target on Talen Energy from $411.00 to $408.00 and set an “overweight” rating for the company in a research note on Tuesday, July 28th. Scotiabank upped their target price on shares of Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 15th. Finally, Zacks Research upgraded Talen Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th.

Insiders Place Their Bets

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the business’s stock in a transaction dated 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 directly owned 2,606 shares in the company, valued at $990,280. The trade was a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Talen Energy

Large investors have recently added to or reduced their stakes in the company. Fred Alger Management LLC increased its stake in shares of Talen Energy by 8.4% in the fourth quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider’s stock worth $676,247,000 after purchasing an additional 140,345 shares in the last quarter. Reaves W H & Co. Inc. boosted its stake in Talen Energy by 7.9% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock worth $570,393,000 after purchasing an additional 111,160 shares during the period. Invesco Ltd. grew its holdings in Talen Energy by 35.6% during the 4th quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider’s stock valued at $540,287,000 after buying an additional 378,357 shares in the last quarter. State Street Corp increased its position in shares of Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after buying an additional 627,467 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Talen Energy by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 1,049,196 shares of the utilities provider’s stock worth $409,559,000 after buying an additional 87,784 shares in the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Trading Up 3.1%

NASDAQ:TLN opened at $344.49 on Thursday. The firm’s fifty day moving average is $377.47 and its 200-day moving average is $359.89. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. Talen Energy has a 52 week low of $301.45 and a 52 week high of $451.28. The firm has a market cap of $16.50 billion, a P/E ratio of -514.16 and a beta of 1.90.

Talen Energy Company Profile

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).