Brokerages Set Talen Energy Corporation (NASDAQ:TLN) Target Price at $247.10

Shares of Talen Energy Corporation (NASDAQ:TLN) have received a consensus rating of “Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. Eleven analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $247.10.

Several equities analysts have commented on the stock. Barclays increased their price target on shares of Talen Energy from $245.00 to $293.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Evercore ISI initiated coverage on shares of Talen Energy in a research note on Friday. They issued an “outperform” rating on the stock. Daiwa Capital Markets initiated coverage on shares of Talen Energy in a research report on Wednesday, December 4th. They set a “buy” rating and a $248.00 target price on the stock. Oppenheimer raised their target price on shares of Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Bank of America initiated coverage on shares of Talen Energy in a research report on Monday, February 3rd. They set a “buy” rating and a $253.00 target price on the stock.

Talen Energy Stock Performance

Shares of Talen Energy stock opened at $215.85 on Thursday. The firm has a market capitalization of $10.98 billion, a P/E ratio of 11.56, a P/E/G ratio of 2.70 and a beta of 1.70. Talen Energy has a 52 week low of $69.06 and a 52 week high of $258.03. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07. The firm’s 50 day moving average is $222.33 and its two-hundred day moving average is $177.52.

Insider Buying and Selling

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $204.35, for a total value of $999,988,155.45. Following the completion of the sale, the insider now owns 6,475,107 shares of the company’s stock, valued at approximately $1,323,188,115.45. This trade represents a 43.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Talen Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of TLN. BNP Paribas Financial Markets acquired a new stake in Talen Energy in the third quarter valued at $36,000. Allworth Financial LP raised its stake in shares of Talen Energy by 170.6% during the 4th quarter. Allworth Financial LP now owns 184 shares of the utilities provider’s stock worth $37,000 after buying an additional 116 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Talen Energy during the 4th quarter worth $37,000. Geneos Wealth Management Inc. acquired a new position in shares of Talen Energy during the 4th quarter worth $39,000. Finally, Empowered Funds LLC acquired a new position in shares of Talen Energy during the 4th quarter worth $42,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Company Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.