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 business’s 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 completion of the transaction, the director directly owned 2,606 shares in the company, valued at approximately $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Talen Energy Trading Up 0.8%

Shares of TLN stock traded up $3.30 during trading hours on Wednesday, hitting $409.81. 1,041,298 shares of the company were exchanged, compared to its average volume of 808,474. The company has a 50 day simple moving average of $359.74 and a two-hundred day simple moving average of $358.33. The firm has a market cap of $18.60 billion, a P/E ratio of -611.65 and a beta of 1.80. 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 Corporation has a fifty-two week low of $255.50 and a fifty-two week high of $451.28.

Analyst Ratings Changes

Several research firms have weighed in on TLN. Barclays lifted their price target on shares of Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Morgan Stanley restated an “overweight” rating and issued a $499.00 target price on shares of Talen Energy in a research note on Thursday, May 21st. Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Raymond James Financial reiterated an “outperform” rating and issued a $457.00 price target on shares of Talen Energy in a report on Monday, April 27th. Finally, BNP Paribas Exane initiated coverage on Talen Energy in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $448.58.

Institutional Investors Weigh In On Talen Energy

Several hedge funds and other institutional investors have recently made changes to their positions in TLN. Ritholtz Wealth Management lifted its position in 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 acquiring an additional 36 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Talen Energy by 5.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 671 shares of the utilities provider’s stock worth $252,000 after purchasing an additional 36 shares in the last quarter. Compound Planning Inc. raised its stake in shares of Talen Energy by 4.7% in the fourth quarter. Compound Planning Inc. now owns 841 shares of the utilities provider’s stock worth $315,000 after purchasing an additional 38 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in shares of 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 purchasing an additional 39 shares during the last quarter. Finally, Values First Advisors Inc. lifted its holdings in shares of Talen Energy by 4.7% in the first quarter. Values First Advisors Inc. now owns 979 shares of the utilities provider’s stock valued at $312,000 after purchasing an additional 44 shares in the last quarter. 0.38% of the stock is owned by institutional investors.

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).