Talen Energy (NASDAQ:TLN) Reaches New 12-Month High - Still a Buy?

Talen Energy Corporation (NASDAQ:TLN - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $231.39 and last traded at $229.10, with a volume of 696741 shares. The stock had previously closed at $220.25.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Guggenheim upped their price target 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. UBS Group upped their price objective on shares of Talen Energy from $242.00 to $269.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Barclays increased their target price on shares of Talen Energy from $202.00 to $245.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Royal Bank of Canada initiated coverage on Talen Energy in a report on Thursday, September 26th. They set an "outperform" rating and a $233.00 price target on the stock. Finally, Daiwa Capital Markets assumed coverage on Talen Energy in a research report on Wednesday, December 4th. They set a "buy" rating and a $248.00 price target for the company. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $225.10.

Talen Energy Price Performance

The stock has a market cap of $11.51 billion and a PE ratio of 12.12. The business has a fifty day simple moving average of $209.27 and a two-hundred day simple moving average of $150.97. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07.

Insider Activity at Talen Energy

In related news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of Talen Energy stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $204.35, for a total transaction of $999,988,155.45. Following the completion of the transaction, the insider now directly owns 6,475,107 shares of the company's stock, valued at $1,323,188,115.45. This trade represents a 43.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Talen Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd bought a new stake in shares of Talen Energy in the 3rd quarter worth approximately $520,000. JPMorgan Chase & Co. purchased a new position in Talen Energy during the third quarter valued at $23,482,000. Roubaix Capital LLC bought a new stake in Talen Energy in the third quarter worth $11,234,000. Monarch Alternative Capital LP purchased a new stake in shares of Talen Energy in the third quarter worth $258,448,000. Finally, First Sabrepoint Capital Management LP bought a new position in shares of Talen Energy during the third quarter valued at $6,238,000. 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.