Scotiabank Issues Positive Forecast for Talen Energy (NASDAQ:TLN) Stock Price

Talen Energy (NASDAQ:TLN) had its target price lifted by Scotiabank from $463.00 to $470.00 in a report released on Wednesday morning, Marketbeat Ratings reports. Scotiabank currently has a sector perform rating on the utilities provider’s stock.

Other analysts have also issued reports about the stock. The Goldman Sachs Group started coverage on shares of Talen Energy in a report on Thursday, June 18th. They issued a “buy” rating and a $499.00 price objective for the company. Morgan Stanley reissued an “overweight” rating and issued a $508.00 target price on shares of Talen Energy in a research report on Wednesday, June 24th. Raymond James Financial restated an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a research note on Monday, April 27th. Barclays lifted their price target on Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. reduced their price target on Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $475.08.

Talen Energy Stock Up 0.8%

Shares of Talen Energy stock opened at $400.12 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. Talen Energy has a 12-month low of $255.50 and a 12-month high of $451.28. The company has a market cap of $19.16 billion, a P/E ratio of -597.19 and a beta of 1.82. The company’s fifty day simple moving average is $379.02 and its two-hundred day simple moving average is $362.30.

Insider Buying and Selling at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the transaction, the director owned 2,606 shares of the company’s stock, valued at $990,280. The trade was a 49.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Talen Energy

A number of hedge funds have recently added to or reduced their stakes in TLN. Daiwa Securities Group Inc. grew its position in Talen Energy by 5.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 671 shares of the utilities provider’s stock worth $252,000 after purchasing an additional 36 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of Talen Energy by 3.6% in the first quarter. Ritholtz Wealth Management now owns 1,045 shares of the utilities provider’s stock worth $334,000 after buying an additional 36 shares during the last quarter. Compound Planning Inc. lifted its stake 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 worth $315,000 after buying an additional 38 shares during the period. Northwestern Mutual Investment Management Company LLC grew its holdings 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 buying an additional 39 shares during the last quarter. Finally, Values First Advisors Inc. grew its holdings in shares of Talen Energy by 4.7% during the first quarter. Values First Advisors Inc. now owns 979 shares of the utilities provider’s stock valued at $312,000 after buying an additional 44 shares during the last quarter. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

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).