Talen Energy (NASDAQ:TLN) Rating Increased to Strong-Buy at The Goldman Sachs Group

Talen Energy (NASDAQ:TLN) was upgraded by analysts at The Goldman Sachs Group to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other analysts have also recently commented on the company. Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Barclays raised their target price on shares of Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Raymond James Financial restated an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a report on Monday, April 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $499.00 price target on shares of Talen Energy in a research report on Thursday, May 21st. Finally, Wells Fargo & Company increased their price target on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $452.46.

Talen Energy Price Performance

Shares of NASDAQ:TLN opened at $436.29 on Thursday. The company has a market cap of $19.81 billion, a P/E ratio of -651.17 and a beta of 1.80. The business has a fifty day simple moving average of $363.58 and a 200-day simple moving average of $358.75. Talen Energy has a 52 week low of $255.50 and a 52 week high of $451.28. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32.

Insider Buying and Selling

In other news, Director Gizman I. Abbas sold 2,600 shares of the firm’s 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 transaction, the director directly owned 2,606 shares in the company, valued at $990,280. This trade represents a 49.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.78% of the stock is owned by corporate insiders.

Institutional Trading of Talen Energy

A number of institutional investors have recently modified their holdings of TLN. Flagship Harbor Advisors LLC purchased a new position in Talen Energy in the fourth quarter valued at approximately $27,000. Assetmark Inc. grew its stake in Talen Energy by 581.8% during the third quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock worth $32,000 after buying an additional 64 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of Talen Energy in the third quarter worth $34,000. Advisory Services Network LLC acquired a new stake in shares of Talen Energy in the third quarter worth $35,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Talen Energy by 1,500.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

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).