Talen Energy (NASDAQ:TLN) Coverage Initiated at Bank of America

Stock analysts at Bank of America began coverage on shares of Talen Energy (NASDAQ:TLN) in a research note issued on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $253.00 price target on the utilities provider’s stock. Bank of America‘s target price points to a potential upside of 7.93% from the company’s current price.

A number of other research firms also recently commented on TLN. Oppenheimer increased their price objective 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. Barclays increased their price target on shares of Talen Energy from $245.00 to $293.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Daiwa Capital Markets assumed coverage on Talen Energy in a research note on Wednesday, December 4th. They set a “buy” rating and a $248.00 price objective on the stock. JPMorgan Chase & Co. began coverage on Talen Energy in a research report on Thursday, October 17th. They issued an “overweight” rating and a $268.00 target price for the company. Finally, UBS Group upped 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. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Talen Energy currently has a consensus rating of “Buy” and an average price target of $232.00.

Talen Energy Price Performance

TLN stock opened at $234.42 on Monday. The stock’s 50 day moving average is $215.64 and its two-hundred day moving average is $164.79. Talen Energy has a 52-week low of $64.51 and a 52-week high of $258.03. The company has a market capitalization of $11.92 billion, a PE ratio of 12.55 and a beta of 1.70. 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 Activity

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the firm’s 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 transaction, the insider now owns 6,475,107 shares of the company’s stock, valued at approximately $1,323,188,115.45. This trade represents a 43.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Talen Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Artemis Wealth Advisors LLC acquired a new position in shares of Talen Energy in the fourth quarter worth about $806,000. Bank of New York Mellon Corp lifted its holdings in shares of Talen Energy by 457.9% in the fourth quarter. Bank of New York Mellon Corp now owns 97,208 shares of the utilities provider’s stock valued at $19,584,000 after purchasing an additional 79,783 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Talen Energy in the fourth quarter worth $1,986,000. World Equity Group Inc. grew its holdings in shares of Talen Energy by 146.9% during the fourth quarter. World Equity Group Inc. now owns 3,284 shares of the utilities provider’s stock valued at $662,000 after buying an additional 1,954 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of Talen Energy by 458.0% in the 4th quarter. First Horizon Advisors Inc. now owns 452 shares of the utilities provider’s stock valued at $91,000 after purchasing an additional 371 shares during the period. Institutional investors own 0.38% of the company’s stock.

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.