Talen Energy Corporation (NASDAQ:TLN – Get Free Report)’s share price shot up 7% on Tuesday . The company traded as high as $404.34 and last traded at $413.0730. 76,409 shares were traded during trading, a decline of 90% from the average session volume of 792,987 shares. The stock had previously closed at $386.21.
Analysts Set New Price Targets
A number of research firms recently weighed in on TLN. Wells Fargo & Company upped their target price on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $499.00 target price on shares of Talen Energy in a report on Thursday, May 21st. Raymond James Financial reaffirmed an “outperform” rating and set a $457.00 target price on shares of Talen Energy in a report on Monday, April 27th. Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Finally, The Goldman Sachs Group began coverage on shares of Talen Energy in a report on Thursday. They set a “buy” rating on the stock. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $448.58.
Check Out Our Latest Stock Report on TLN
Talen Energy Stock Up 0.8%
Insider Activity at Talen Energy
In other news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction 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 of the company’s stock, valued at $990,280. This represents a 49.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.78% of the stock is owned by insiders.
Hedge Funds Weigh In On Talen Energy
A number of institutional investors have recently made changes to their positions in the stock. Ritholtz Wealth Management increased its holdings in shares of Talen Energy by 3.6% in the 1st quarter. Ritholtz Wealth Management now owns 1,045 shares of the utilities provider’s stock worth $334,000 after buying an additional 36 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Talen Energy by 5.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 671 shares of the utilities provider’s stock worth $252,000 after buying an additional 36 shares during the last quarter. Compound Planning Inc. increased its holdings in shares of Talen Energy by 4.7% in the 4th quarter. Compound Planning Inc. now owns 841 shares of the utilities provider’s stock worth $315,000 after buying an additional 38 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in shares of Talen Energy by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 10,223 shares of the utilities provider’s stock worth $3,832,000 after buying an additional 39 shares during the last quarter. Finally, Values First Advisors Inc. increased its holdings in shares of Talen Energy by 4.7% in the 1st quarter. Values First Advisors Inc. now owns 979 shares of the utilities provider’s stock worth $312,000 after buying an additional 44 shares during the last quarter. Institutional investors own 0.38% of the company’s stock.
Talen Energy Company Profile
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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