Talen Energy (NASDAQ:TLN) Hits New 1-Year High – Here’s Why

Shares of Talen Energy Corporation (NASDAQ:TLN) hit a new 52-week high during trading on Wednesday . The company traded as high as $231.39 and last traded at $229.10, with a volume of 696741 shares trading hands. The stock had previously closed at $220.25.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TLN shares. JPMorgan Chase & Co. assumed coverage on shares of Talen Energy in a research note on Thursday, October 17th. They issued an “overweight” rating and a $268.00 price objective on the stock. Royal Bank of Canada started coverage on shares of Talen Energy in a research report on Thursday, September 26th. They issued an “outperform” rating and a $233.00 price target on the stock. Oppenheimer lifted their price target on Talen Energy from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Guggenheim increased their price objective on Talen Energy from $219.00 to $246.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Barclays lifted their target price on Talen Energy from $202.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $225.10.

Talen Energy Trading Up 0.3 %

The firm has a 50-day moving average price of $210.53 and a 200-day moving average price of $152.04. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $11.95 billion and a PE ratio of 12.58.

Insider Buying and Selling

In related news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 6,475,107 shares in the company, valued at approximately $1,323,188,115.45. This represents a 43.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TLN. Allspring Global Investments Holdings LLC bought a new stake in Talen Energy in the 3rd quarter valued at about $29,464,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in shares of Talen Energy in the third quarter worth about $7,967,000. Guidance Capital Inc. purchased a new stake in shares of Talen Energy in the third quarter worth about $348,000. Mcdaniel Terry & Co. bought a new position in Talen Energy in the 3rd quarter valued at $371,000. Finally, Spirit of America Management Corp NY purchased a new position in shares of Talen Energy during the 3rd quarter valued at $214,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

About Talen Energy

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.