Talen Energy (NASDAQ:TLN) Reaches New 52-Week High - Here's Why

Talen Energy Corporation (NASDAQ:TLN - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as $240.51 and last traded at $241.04, with a volume of 7591 shares. The stock had previously closed at $234.95.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Daiwa Capital Markets began coverage on shares of Talen Energy in a research report on Wednesday, December 4th. They set a "buy" rating and a $248.00 target price for the company. Barclays boosted their price objective on shares of Talen Energy from $202.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. JPMorgan Chase & Co. initiated coverage on Talen Energy in a report on Thursday, October 17th. They issued an "overweight" rating and a $268.00 target price on the stock. Oppenheimer lifted their target price on Talen Energy from $225.00 to $250.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Finally, Guggenheim raised their price objective on Talen Energy from $219.00 to $246.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $225.10.

Talen Energy Price Performance

The firm has a 50-day moving average of $214.06 and a 200-day moving average of $157.04. The stock has a market cap of $12.57 billion and a PE ratio of 13.23. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37.

Insider Buying and Selling at Talen Energy

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

Institutional Investors Weigh In On Talen Energy

A number of hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new position in shares of Talen Energy during the 3rd quarter valued at approximately $36,000. Geneos Wealth Management Inc. purchased a new position in Talen Energy during the fourth quarter worth $39,000. SG Americas Securities LLC bought a new position in Talen Energy during the fourth quarter valued at $152,000. Spirit of America Management Corp NY purchased a new stake in shares of Talen Energy in the third quarter valued at $214,000. Finally, World Equity Group Inc. bought a new stake in shares of Talen Energy in the 3rd quarter worth about $237,000. 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.