Brokerages Set Talen Energy Corporation (NASDAQ:TLN) Price Target at $458.77

Talen Energy Corporation (NASDAQ:TLN) has received an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $458.7692.

TLN has been the topic of a number of recent analyst reports. BNP Paribas Exane began coverage on Talen Energy in a research report on Wednesday, March 18th. They set an “outperform” rating and a $548.00 price target on the stock. Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. decreased their target price on Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Wells Fargo & Company lifted their price target on shares of Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $457.00 price target on shares of Talen Energy in a report on Monday, April 27th.

Insider Activity

In related news, Director Gizman I. Abbas sold 2,600 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the transaction, the director owned 2,606 shares in the company, valued at $990,280. This represents a 49.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Talen Energy

Large investors have recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new stake in shares of Talen Energy in the fourth quarter worth approximately $27,000. Neo Ivy Capital Management purchased a new position in Talen Energy in the 3rd quarter valued at $34,000. Advisory Services Network LLC purchased a new position in shares of Talen Energy in the third quarter worth about $35,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Talen Energy by 1,500.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after buying an additional 90 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Talen Energy during the 4th quarter valued at about $39,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Talen Energy Trading Down 2.9%

Shares of Talen Energy stock opened at $366.66 on Friday. Talen Energy has a fifty-two week low of $255.50 and a fifty-two week high of $451.28. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. The company has a market cap of $17.56 billion, a P/E ratio of -547.25 and a beta of 1.82. The firm has a 50-day simple moving average of $377.39 and a two-hundred day simple moving average of $361.73.

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).