Gizman Abbas Sells 2,600 Shares of Talen Energy (NASDAQ:TLN) Stock

Talen Energy Corporation (NASDAQ:TLN) Director Gizman Abbas sold 2,600 shares of Talen Energy stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following 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 legal filing with the SEC, which can be accessed through this link.

Talen Energy Stock Up 6.5%

TLN stock opened at $436.29 on Friday. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05. The company’s 50 day simple moving average is $363.58 and its 200-day simple moving average is $358.75. Talen Energy Corporation has a 12 month low of $255.50 and a 12 month high of $451.28. The firm has a market capitalization of $19.81 billion, a PE ratio of -651.17 and a beta of 1.80.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TLN. Wells Fargo & Company raised their price target on Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. 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. dropped their price objective on Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Barclays lifted their price objective on Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $457.00 target price on shares of Talen Energy in a report on Monday, April 27th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $452.46.

Institutional Trading of Talen Energy

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its position in Talen Energy by 88.2% in the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after purchasing an additional 627,467 shares during the period. Norges Bank acquired a new stake in shares of Talen Energy in the fourth quarter valued at about $225,930,000. Invesco Ltd. raised its holdings in shares of Talen Energy by 77.5% during the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock valued at $452,189,000 after buying an additional 464,014 shares during the period. Sachem Head Capital Management LP raised its holdings in shares of Talen Energy by 72.4% during the 4th quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider’s stock valued at $374,840,000 after buying an additional 420,000 shares during the period. Finally, Deltroit Asset Management UK LLP acquired a new position in Talen Energy during the 4th quarter worth approximately $103,081,000. 0.38% of the stock is owned by hedge funds and other 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).