Talen Energy (NASDAQ:TLN) Stock Price Up 5.5% – Should You Buy?

Talen Energy Corporation (NASDAQ:TLN) rose 5.5% during mid-day trading on Wednesday . The company traded as high as $218.00 and last traded at $215.62. Approximately 1,558,902 shares were traded during mid-day trading, an increase of 14% from the average daily volume of 1,366,206 shares. The stock had previously closed at $204.42.

Wall Street Analyst Weigh In

Several research analysts have commented on TLN shares. Daiwa Capital Markets started coverage on Talen Energy in a report on Wednesday, December 4th. They set a “buy” rating and a $248.00 price objective on the stock. Guggenheim upped their price objective on shares of Talen Energy from $219.00 to $246.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Oppenheimer boosted their price target on shares of Talen Energy from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, December 9th. JPMorgan Chase & Co. assumed coverage on shares of Talen Energy in a research note on Thursday, October 17th. They set an “overweight” rating and a $268.00 price objective on the stock. Finally, UBS Group boosted their price objective on shares of Talen Energy from $242.00 to $269.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $229.90.

Talen Energy Stock Performance

The firm has a 50 day moving average price of $214.44 and a 200-day moving average price of $160.40. The stock has a market capitalization of $10.88 billion and a PE ratio of 11.46. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07.

Insider Buying and Selling at Talen Energy

In related news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the stock in a transaction on 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 sale, the insider now directly owns 6,475,107 shares of the company’s stock, valued at approximately $1,323,188,115.45. This represents a 43.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Talen Energy

Institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets purchased a new position in Talen Energy during the third quarter worth approximately $36,000. Geneos Wealth Management Inc. purchased a new position in shares of Talen Energy during the 4th quarter valued at approximately $39,000. Empowered Funds LLC acquired a new stake in Talen Energy in the 4th quarter valued at $42,000. SG Americas Securities LLC purchased a new stake in Talen Energy in the 4th quarter worth $152,000. Finally, Spirit of America Management Corp NY acquired a new position in Talen Energy during the third quarter worth $214,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

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.