Talen Energy (NASDAQ:TLN) Rating Increased to Strong-Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Talen Energy (NASDAQ:TLN) to a strong-buy rating in a research note issued to investors on Thursday, MarketBeat Ratings reports.

TLN has been the subject of a number of other reports. Raymond James Financial reiterated an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a report on Monday, April 27th. Morgan Stanley reissued an “overweight” rating and set a $499.00 price objective on shares of Talen Energy in a report on Thursday, May 21st. Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. BNP Paribas Exane assumed coverage on Talen Energy in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 target price for the company. Finally, Wells Fargo & Company increased their price target on shares of Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $452.46.

Talen Energy Price Performance

Shares of NASDAQ:TLN opened at $436.29 on Thursday. The company’s fifty day moving average price is $363.58 and its 200-day moving average price is $358.75. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05. The firm has a market capitalization of $19.81 billion, a price-to-earnings ratio of -651.17 and a beta of 1.80. Talen Energy has a one year low of $255.50 and a one year high of $451.28.

Insider Buying and Selling at Talen Energy

In related news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the sale, the director directly owned 2,606 shares in the company, valued at $990,280. This represents a 49.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.78% of the company’s stock.

Institutional Trading of Talen Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Flagship Harbor Advisors LLC bought a new position in shares of Talen Energy in the fourth quarter worth approximately $27,000. Assetmark Inc. boosted its position in Talen Energy by 581.8% during the 3rd quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock valued at $32,000 after buying an additional 64 shares during the period. Neo Ivy Capital Management purchased a new stake in Talen Energy during the 3rd quarter valued at $34,000. Advisory Services Network LLC bought a new stake in Talen Energy in the 3rd quarter worth $35,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Talen Energy by 1,500.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 90 shares during the period. Institutional investors own 0.38% of the company’s stock.

About Talen Energy

Talen Energy Inc is an independent power producer that develops and operates a diversified portfolio of thermal and renewable generation facilities across the United States. The company supplies wholesale electricity and related services to utilities, large industrial customers, and power marketers, participating actively in regional markets such as PJM Interconnection and the Electric Reliability Council of Texas (ERCOT). Talen’s asset base comprises a mix of natural gas-fired, coal-fired and nuclear generation, supplemented by battery storage and other flexible resources designed to support the evolving needs of the grid.

Established in December 2015 through the combination of the competitive generation businesses previously held by two major utility groups, Talen Energy was structured as a standalone, publicly traded entity on the NASDAQ stock exchange (TLN).