Talen Energy Corporation (NASDAQ:TLN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Talen Energy Corporation (NASDAQ:TLN) have received an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $476.4545.

A number of research analysts recently weighed in on TLN shares. Morgan Stanley reaffirmed an “overweight” rating and set a $508.00 price objective on shares of Talen Energy in a research report on Wednesday, June 24th. Wells Fargo & Company boosted their target price on Talen Energy from $477.00 to $482.00 and gave the stock an “overweight” rating in a report on Monday. Jefferies Financial Group cut their target price on Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. Scotiabank raised their price target on Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th.

Insider Transactions at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the company’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 transaction, the director owned 2,606 shares in the company, valued at approximately $990,280. This represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.78% of the company’s stock.

Hedge Funds Weigh In On Talen Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TLN. FNY Investment Advisers LLC bought a new stake in shares of Talen Energy in the 2nd quarter worth $79,000. Assenagon Asset Management S.A. boosted its position in shares of Talen Energy by 183.3% during the second quarter. Assenagon Asset Management S.A. now owns 434,728 shares of the utilities provider’s stock valued at $167,049,000 after buying an additional 281,291 shares during the last quarter. GAMMA Investing LLC raised its position in Talen Energy by 63.8% in the 2nd quarter. GAMMA Investing LLC now owns 701 shares of the utilities provider’s stock worth $269,000 after buying an additional 273 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in Talen Energy in the 2nd quarter worth about $62,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Talen Energy by 948.3% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 304 shares of the utilities provider’s stock valued at $117,000 after acquiring an additional 275 shares during the period. 0.38% of the stock is owned by institutional investors.

Talen Energy Price Performance

TLN stock opened at $316.19 on Thursday. The firm has a 50 day moving average price of $379.35 and a 200-day moving average price of $360.63. Talen Energy has a 52-week low of $301.45 and a 52-week high of $451.28. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of -471.92 and a beta of 1.82. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25.

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).