Talen Energy (NASDAQ:TLN – Get Free Report) had its target price increased by equities research analysts at Scotiabank from $463.00 to $470.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s price objective indicates a potential upside of 15.19% from the stock’s previous close.
A number of other equities research analysts have also recently commented on TLN. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. lowered their price objective on Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Wells Fargo & Company increased their target price on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group started coverage on Talen Energy in a report on Thursday, June 18th. They issued a “buy” rating and a $499.00 target price for the company. Finally, Barclays upped their price target on Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Talen Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $475.08.
Read Our Latest Analysis on TLN
Talen Energy Stock Up 2.8%
Insiders Place Their Bets
In related news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the transaction, the director owned 2,606 shares in the company, valued at $990,280. This represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.78% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Talen Energy
A number of large investors have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. grew its stake in Talen Energy by 5.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 671 shares of the utilities provider’s stock valued at $252,000 after acquiring an additional 36 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in shares of Talen Energy by 3.6% during the 1st quarter. Ritholtz Wealth Management now owns 1,045 shares of the utilities provider’s stock valued at $334,000 after purchasing an additional 36 shares during the last quarter. Compound Planning Inc. grew its position in shares of Talen Energy by 4.7% during the fourth quarter. Compound Planning Inc. now owns 841 shares of the utilities provider’s stock valued at $315,000 after purchasing an additional 38 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its position in shares of Talen Energy by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 10,223 shares of the utilities provider’s stock valued at $3,832,000 after purchasing an additional 39 shares in the last quarter. Finally, Values First Advisors Inc. increased its holdings in shares of Talen Energy by 4.7% in the first quarter. Values First Advisors Inc. now owns 979 shares of the utilities provider’s stock worth $312,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 0.38% of the company’s stock.
About Talen Energy
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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