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

Shares of Talen Energy Corporation (NASDAQ:TLN) have received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $470.75.

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. BNP Paribas Exane assumed coverage on Talen Energy in a report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 target price on the stock. Morgan Stanley reissued an “overweight” rating and issued a $508.00 target price on shares of Talen Energy in a report on Wednesday, June 24th. Jefferies Financial Group cut Talen Energy from a “buy” rating to a “hold” rating and set a $453.00 price target for the company. in a research report on Tuesday, June 23rd. Finally, The Goldman Sachs Group began coverage on shares of Talen Energy in a research report on Thursday, June 18th. They set a “buy” rating and a $499.00 target price for the company.

Talen Energy Price Performance

Shares of NASDAQ:TLN traded up $1.36 during trading on Friday, hitting $385.80. 458,843 shares of the stock were exchanged, compared to its average volume of 950,612. The company has a fifty day moving average price of $378.50 and a two-hundred day moving average price of $361.96. The company has a market cap of $18.48 billion, a PE ratio of -575.81 and a beta of 1.82. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. Talen Energy has a 12-month low of $255.50 and a 12-month high of $451.28.

Insiders Place Their Bets

In related 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 completion of the transaction, the director owned 2,606 shares of the company’s stock, valued at approximately $990,280. The trade was a 49.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.78% of the company’s stock.

Institutional Investors Weigh In On Talen Energy

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

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).