Key Points
- Director Gizman Abbas sold 2,600 shares of Talen Energy on June 15 at an average price of $380.00, for total proceeds of $988,000. After the sale, Abbas still held 2,606 shares, cutting ownership by about 49.94%.
- Wall Street sentiment remains mostly positive, with 12 analysts rating TLN a Buy and three a Hold. The stock’s consensus target price is $448.58, and recent calls include Buy/Outperform ratings from Goldman Sachs, Raymond James, and Morgan Stanley.
- Talen Energy shares were trading at $409.81 when the article was published, below the 52-week high of $451.28 but well above the 52-week low of $255.50. The company has a market cap of $18.61 billion and a relatively high debt-to-equity ratio of 6.32.
Talen Energy Corporation (NASDAQ:TLN - Get Free Report) Director Gizman Abbas sold 2,600 shares of the company's stock in a transaction on Monday, June 15th. The stock was 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 of the company's stock, valued at approximately $990,280. The trade was a 49.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Talen Energy Stock Performance
Shares of TLN opened at $409.81 on Thursday. The firm has a fifty day moving average of $361.45 and a 200-day moving average of $358.45. The company has a market cap of $18.61 billion, a price-to-earnings 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 1 year low of $255.50 and a 1 year high of $451.28.
Wall Street Analyst Weigh In
A number of research firms have issued reports on TLN. Raymond James Financial reissued an "outperform" rating and set a $457.00 target price on shares of Talen Energy in a research note on Monday, April 27th. Weiss Ratings raised Talen Energy from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, May 7th. The Goldman Sachs Group assumed coverage on Talen Energy in a research report on Thursday. They set a "buy" rating for the company. Morgan Stanley reissued an "overweight" rating and issued a $499.00 price objective on shares of Talen Energy in a report on Thursday, May 21st. Finally, BNP Paribas Exane assumed coverage on Talen Energy in a research report on Wednesday, March 18th. They issued an "outperform" rating and a $548.00 target price on the stock. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $448.58.
View Our Latest Stock Report on Talen Energy
Hedge Funds Weigh In On Talen Energy
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. boosted its holdings in shares of Talen Energy by 1.6% in the third quarter. American Century Companies Inc. now owns 342,914 shares of the utilities provider's stock valued at $145,870,000 after acquiring an additional 5,389 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Talen Energy by 1,526.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,054 shares of the utilities provider's stock valued at $9,766,000 after acquiring an additional 24,452 shares during the period. Victory Capital Management Inc. raised its holdings in Talen Energy by 157.0% during the third quarter. Victory Capital Management Inc. now owns 111,104 shares of the utilities provider's stock worth $47,261,000 after purchasing an additional 67,881 shares in the last quarter. South Dakota Investment Council bought a new stake in Talen Energy during the third quarter worth approximately $1,489,000. Finally, Vaughan Nelson Investment Management L.P. lifted its position in Talen Energy by 11.8% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 45,250 shares of the utilities provider's stock worth $16,962,000 after purchasing an additional 4,770 shares during the period. Institutional investors own 0.38% of the company's stock.
Talen Energy Company Profile
(
Get Free Report)
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).
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