Truist Financial Corp Purchases Shares of 2,863 Talen Energy Corporation (NASDAQ:TLN)

Truist Financial Corp acquired a new stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,863 shares of the utilities provider's stock, valued at approximately $577,000.

Several other institutional investors and hedge funds have also made changes to their positions in TLN. BNP Paribas Financial Markets bought a new position in shares of Talen Energy during the third quarter worth about $36,000. Allworth Financial LP raised its stake in Talen Energy by 170.6% during the fourth quarter. Allworth Financial LP now owns 184 shares of the utilities provider's stock valued at $37,000 after buying an additional 116 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in Talen Energy during the 4th quarter worth approximately $39,000. Empowered Funds LLC bought a new position in Talen Energy during the 4th quarter worth approximately $42,000. Finally, SG Americas Securities LLC acquired a new position in shares of Talen Energy in the 4th quarter worth approximately $152,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the business's stock in a transaction on 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by insiders.

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Talen Energy Price Performance

TLN stock traded down $14.37 during trading on Thursday, hitting $183.48. The company had a trading volume of 605,792 shares, compared to its average volume of 1,257,617. The business has a 50 day moving average of $222.61 and a 200 day moving average of $181.49. The firm has a market capitalization of $8.43 billion, a price-to-earnings ratio of 9.85, a P/E/G ratio of 2.70 and a beta of 2.00. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07. Talen Energy Corporation has a fifty-two week low of $83.14 and a fifty-two week high of $258.03.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TLN shares. Oppenheimer increased their target price on shares of Talen Energy from $225.00 to $250.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. UBS Group lifted their target price on Talen Energy from $242.00 to $269.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Barclays dropped their price target on Talen Energy from $293.00 to $282.00 and set an "overweight" rating on the stock in a research report on Tuesday. Bank of America assumed coverage on Talen Energy in a research report on Monday, February 3rd. They issued a "buy" rating and a $253.00 target price on the stock. Finally, Evercore ISI started coverage on shares of Talen Energy in a report on Friday, February 21st. They set an "outperform" rating for the company. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $246.00.

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.