Talen Energy Corporation (NASDAQ:TLN – Get Free Report) major shareholder Rubric Capital Management Lp sold 178,000 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $296.04, for a total value of $52,695,120.00. Following the transaction, the insider now owns 5,734,970 shares in the company, valued at $1,697,780,518.80. This trade represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Rubric Capital Management Lp also recently made the following trade(s):
- On Thursday, June 26th, Rubric Capital Management Lp sold 102,217 shares of Talen Energy stock. The stock was sold at an average price of $291.98, for a total value of $29,845,319.66.
- On Wednesday, June 25th, Rubric Capital Management Lp sold 108,313 shares of Talen Energy stock. The stock was sold at an average price of $291.29, for a total value of $31,550,493.77.
Talen Energy Price Performance
TLN stock opened at $297.88 on Friday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.20 and a current ratio of 1.62. Talen Energy Corporation has a 1 year low of $98.50 and a 1 year high of $300.00. The firm has a market cap of $13.56 billion, a P/E ratio of 30.93, a price-to-earnings-growth ratio of 7.15 and a beta of 1.78. The stock has a 50-day simple moving average of $247.98 and a 200-day simple moving average of $224.25.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. Susquehanna restated an “overweight” rating on shares of Talen Energy in a report on Thursday, June 12th. Daiwa Capital Markets set a $200.00 price objective on Talen Energy in a report on Wednesday, March 5th. Raymond James Financial assumed coverage on Talen Energy in a report on Friday, June 13th. They issued an “outperform” rating and a $314.00 price objective on the stock. Wall Street Zen downgraded Talen Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 22nd. Finally, Morgan Stanley assumed coverage on Talen Energy in a report on Wednesday, March 12th. They issued an “overweight” rating and a $243.00 price objective on the stock. One research analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.25.
View Our Latest Analysis on TLN
Institutional Investors Weigh In On Talen Energy
A number of hedge funds have recently bought and sold shares of TLN. Vanguard Group Inc. boosted its holdings in Talen Energy by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider’s stock worth $964,302,000 after purchasing an additional 256,414 shares during the period. Rhumbline Advisers boosted its holdings in Talen Energy by 37.3% in the fourth quarter. Rhumbline Advisers now owns 5,530 shares of the utilities provider’s stock worth $1,114,000 after purchasing an additional 1,503 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Talen Energy by 28.2% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 10,150 shares of the utilities provider’s stock worth $2,045,000 after purchasing an additional 2,233 shares during the period. Truist Financial Corp acquired a new position in Talen Energy in the fourth quarter worth $577,000. Finally, Sei Investments Co. boosted its holdings in Talen Energy by 109.4% in the fourth quarter. Sei Investments Co. now owns 59,686 shares of the utilities provider’s stock worth $12,024,000 after purchasing an additional 31,180 shares during the period. Institutional investors and hedge funds 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.
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