Evercore ISI Initiates Coverage on Talen Energy (NASDAQ:TLN)

Equities researchers at Evercore ISI started coverage on shares of Talen Energy (NASDAQ:TLN) in a report released on Friday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating on the utilities provider’s stock.

Several other equities research analysts have also recently weighed in on TLN. Daiwa Capital Markets started coverage on Talen Energy in a research note on Wednesday, December 4th. They set a “buy” rating and a $248.00 target price for the company. UBS Group raised their price target on Talen Energy from $242.00 to $269.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Oppenheimer upped their price objective on shares of Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Bank of America began coverage on shares of Talen Energy in a report on Monday, February 3rd. They issued a “buy” rating and a $253.00 target price on the stock. Finally, 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 report on Monday, January 27th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $247.10.

Talen Energy Stock Performance

Shares of TLN opened at $237.98 on Friday. Talen Energy has a 1 year low of $67.55 and a 1 year high of $258.03. The stock has a 50-day simple moving average of $221.97 and a 200-day simple moving average of $175.07. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10. The stock has a market capitalization of $12.10 billion, a PE ratio of 12.74, a PEG ratio of 2.83 and a beta of 1.70.

Insider Activity

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the business’s 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 completion of the sale, the insider now directly owns 6,475,107 shares of the company’s stock, valued at $1,323,188,115.45. The trade was a 43.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in Talen Energy in the third quarter valued at approximately $36,000. Allworth Financial LP grew its stake in shares of Talen Energy by 170.6% during the fourth quarter. Allworth Financial LP now owns 184 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 116 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in Talen Energy during the 4th quarter worth approximately $37,000. Geneos Wealth Management Inc. bought a new position in Talen Energy during the 4th quarter worth approximately $39,000. Finally, Empowered Funds LLC bought a new position in Talen Energy in the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Company Profile

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.