Talen Energy (NASDAQ:TLN) Reaches New 12-Month High – Still a Buy?

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Oppenheimer raised their target price on shares of Talen Energy from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Guggenheim lifted their price objective on shares of Talen Energy from $219.00 to $246.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Daiwa Capital Markets initiated coverage on Talen Energy in a research note on Wednesday, December 4th. They issued a “buy” rating and a $248.00 target price on the stock. UBS Group raised their price target on Talen Energy from $242.00 to $269.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. started coverage on Talen Energy in a report on Thursday, October 17th. They issued an “overweight” rating and a $268.00 price objective for the company. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $225.10.

Talen Energy Price Performance

The firm has a fifty day moving average of $210.53 and a two-hundred day moving average 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 company has a market capitalization of $11.95 billion and a PE ratio of 12.58.

Insider Transactions at Talen Energy

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $204.35, for a total transaction of $999,988,155.45. Following the completion of the sale, the insider now directly 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 SEC, which is accessible through this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TLN. BNP Paribas Financial Markets bought a new stake in Talen Energy in the third quarter valued at $36,000. SG Americas Securities LLC purchased a new stake in shares of Talen Energy in the 4th quarter worth about $152,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Talen Energy during the 4th quarter valued at about $240,000. Spirit of America Management Corp NY purchased a new position in shares of Talen Energy during the third quarter valued at about $214,000. Finally, Capital Market Strategies LLC bought a new position in Talen Energy in the fourth quarter worth about $252,000. Institutional investors 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.