Talen Energy (NASDAQ:TLN – Get Free Report) was upgraded by equities researchers at The Goldman Sachs Group to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.
Other analysts also recently issued reports about the company. JPMorgan Chase & Co. decreased their target price 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. Raymond James Financial reaffirmed an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a research note on Monday, April 27th. BNP Paribas Exane assumed coverage on shares of Talen Energy in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Barclays lifted their target price on shares of Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $452.46.
Check Out Our Latest Stock Analysis on Talen Energy
Talen Energy Price Performance
Insider Buying and Selling at Talen Energy
In other news, Director Gizman I. 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 sale, the director directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is currently owned by company insiders.
Institutional Trading of Talen Energy
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its holdings in Talen Energy by 3.4% in the 1st quarter. Pacer Advisors Inc. now owns 8,516 shares of the utilities provider’s stock valued at $2,719,000 after purchasing an additional 278 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of Talen Energy during the first quarter worth about $69,000. South Dakota Investment Council grew its holdings in shares of Talen Energy by 7.1% during the first quarter. South Dakota Investment Council now owns 3,063 shares of the utilities provider’s stock worth $978,000 after buying an additional 203 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of Talen Energy by 2,932.5% in the first quarter. Sunbelt Securities Inc. now owns 7,187 shares of the utilities provider’s stock valued at $2,294,000 after buying an additional 6,950 shares during the last quarter. Finally, Amundi raised its position in shares of Talen Energy by 23.7% in the first quarter. Amundi now owns 85,720 shares of the utilities provider’s stock valued at $27,364,000 after buying an additional 16,400 shares during the last quarter. Hedge funds and other 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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