Talen Energy (NASDAQ:TLN) Given New $293.00 Price Target at Barclays

Talen Energy (NASDAQ:TLN) had its price objective raised by analysts at Barclays from $245.00 to $293.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s target price would suggest a potential upside of 19.56% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Guggenheim upped their target price on shares of Talen Energy from $219.00 to $246.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. UBS Group upped their price objective on Talen Energy from $242.00 to $269.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Oppenheimer raised their target price on Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Daiwa Capital Markets assumed coverage on Talen Energy in a research report on Wednesday, December 4th. They issued a “buy” rating and a $248.00 price target on the stock. Finally, JPMorgan Chase & Co. started coverage on Talen Energy in a report on Thursday, October 17th. They set an “overweight” rating and a $268.00 price objective for the company. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $229.90.

Talen Energy Stock Down 0.8 %

Shares of TLN stock opened at $245.06 on Monday. The stock has a market cap of $12.46 billion and a P/E ratio of 13.12. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37. The stock has a fifty day moving average price of $214.95 and a 200 day moving average price of $158.95. Talen Energy has a one year low of $64.51 and a one year high of $258.03.

Insiders Place Their Bets

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of Talen Energy stock in a transaction on Friday, December 13th. The stock was sold at an average price of $204.35, for a total value of $999,988,155.45. Following the completion of the sale, the insider now directly owns 6,475,107 shares of the company’s stock, valued at approximately $1,323,188,115.45. This trade represents a 43.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Talen Energy

Hedge funds have recently added to or reduced their stakes in the company. Rubric Capital Management LP bought a new stake in shares of Talen Energy during the 3rd quarter valued at $2,026,342,000. River Road Asset Management LLC bought a new stake in Talen Energy in the third quarter valued at about $277,653,000. Monarch Alternative Capital LP bought a new stake in Talen Energy in the third quarter valued at about $258,448,000. Mirabella Financial Services LLP acquired a new position in Talen Energy in the third quarter valued at about $168,108,000. Finally, Sachem Head Capital Management LP bought a new position in Talen Energy during the third quarter worth about $167,724,000. Institutional investors own 0.38% of the company’s stock.

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.