Talen Energy (NASDAQ:TLN) Sets New 1-Year High – Still a Buy?

Talen Energy Corporation (NASDAQ:TLN) hit a new 52-week high on Wednesday . The company traded as high as $231.39 and last traded at $229.10, with a volume of 696741 shares changing hands. The stock had previously closed at $220.25.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on Talen Energy in a report on Thursday, October 17th. They set an “overweight” rating and a $268.00 price objective on the stock. UBS Group raised their price objective on Talen Energy from $242.00 to $269.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Oppenheimer raised their price target on Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Barclays raised their price target on Talen Energy from $202.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Guggenheim raised their price target on Talen Energy from $219.00 to $246.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, Talen Energy presently has an average rating of “Buy” and an average price target of $225.10.

Talen Energy Trading Up 1.9 %

The stock has a market capitalization of $11.42 billion and a P/E ratio of 12.02. The stock has a 50-day moving average price of $209.27 and a two-hundred day moving average price of $150.97. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10.

Insider Transactions at Talen Energy

In related news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of Talen Energy stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $204.35, for a total transaction of $999,988,155.45. Following the sale, the insider now directly owns 6,475,107 shares in the company, valued at $1,323,188,115.45. The trade was a 43.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new position in Talen Energy during the third quarter valued at $36,000. Spirit of America Management Corp NY purchased a new position in Talen Energy during the third quarter valued at $214,000. World Equity Group Inc. purchased a new position in Talen Energy during the third quarter valued at $237,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Talen Energy during the fourth quarter valued at $240,000. Finally, Capital Market Strategies LLC purchased a new position in Talen Energy during the fourth quarter valued at $252,000. Hedge funds and other 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.