Bank of America Initiates Coverage on Talen Energy (NASDAQ:TLN)

Bank of America started coverage on shares of Talen Energy (NASDAQ:TLN - Free Report) in a research note published on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $253.00 price target on the utilities provider's stock.

Several other equities research analysts have also recently commented on TLN. Oppenheimer increased their price target on Talen Energy from $225.00 to $250.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Barclays raised their target price on Talen Energy from $245.00 to $293.00 and gave the stock an "overweight" rating in a research note on Monday, January 27th. Guggenheim upped their price objective on shares of Talen Energy from $219.00 to $246.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Daiwa Capital Markets assumed coverage on shares of Talen Energy in a research report on Wednesday, December 4th. They set a "buy" rating and a $248.00 price objective for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Talen Energy in a report on Thursday, October 17th. They issued an "overweight" rating and a $268.00 target price on the stock. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $232.00.

Talen Energy Price Performance

NASDAQ:TLN traded up $1.43 during trading hours on Monday, hitting $235.85. 826,003 shares of the stock were exchanged, compared to its average volume of 1,330,052. The company has a market cap of $11.99 billion, a P/E ratio of 12.63 and a beta of 1.70. The firm's fifty day moving average price is $215.64 and its 200 day moving average price is $164.79. Talen Energy has a 52-week low of $64.51 and a 52-week high of $258.03. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07.

Insiders Place Their Bets

In related news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the firm's 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 transaction, the insider now owns 6,475,107 shares in the company, valued at $1,323,188,115.45. This trade represents a 43.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Hedge Funds Weigh In On Talen Energy

Several institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new position in Talen Energy during the 3rd quarter worth approximately $36,000. Allworth Financial LP grew its holdings in Talen Energy by 170.6% during the fourth quarter. Allworth Financial LP now owns 184 shares of the utilities provider's stock worth $37,000 after acquiring an additional 116 shares during the period. Geneos Wealth Management Inc. purchased a new position in Talen Energy in the fourth quarter worth $39,000. Empowered Funds LLC acquired a new stake in Talen Energy in the fourth quarter valued at $42,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Talen Energy during the 4th quarter worth $53,000. Institutional investors and hedge funds 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.