Talen Energy (NASDAQ:TLN) Director Sells $988,000.00 in Stock

Talen Energy Corporation (NASDAQ:TLN) Director Gizman Abbas sold 2,600 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Talen Energy Stock Performance

Shares of TLN opened at $436.29 on Friday. The company has a market capitalization of $19.81 billion, a PE ratio of -651.17 and a beta of 1.80. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. The company’s 50 day moving average price is $365.73 and its 200 day moving average price is $359.29. Talen Energy Corporation has a 52 week low of $255.50 and a 52 week high of $451.28.

Institutional Investors Weigh In On Talen Energy

A number of large investors have recently bought and sold shares of TLN. Amundi bought a new stake in shares of Talen Energy during the 1st quarter worth about $299,000. AQR Capital Management LLC bought a new position in shares of Talen Energy in the 1st quarter valued at approximately $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Talen Energy by 11.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock worth $1,454,000 after purchasing an additional 761 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Talen Energy by 17,400.0% in the 1st quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock worth $175,000 after purchasing an additional 870 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Talen Energy by 15.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock worth $9,794,000 after purchasing an additional 6,498 shares during the period. 0.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TLN shares. Raymond James Financial reaffirmed an “outperform” rating and issued a $457.00 price target on shares of Talen Energy in a research note on Monday, April 27th. Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. BNP Paribas Exane began coverage on Talen Energy in a research note on Wednesday, March 18th. They set an “outperform” rating and a $548.00 price target for the company. Wells Fargo & Company lifted their price target on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lowered their price target on Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $452.46.

Talen Energy Company Profile

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).