Talen Energy (NASDAQ:TLN) Shares Gap Up – Should You Buy?

Talen Energy Corporation (NASDAQ:TLN)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $176.56, but opened at $192.79. Talen Energy shares last traded at $190.00, with a volume of 618,394 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TLN shares. Evercore ISI initiated coverage on Talen Energy in a report on Friday, February 21st. They issued an “outperform” rating for the company. Morgan Stanley assumed coverage on shares of Talen Energy in a research report on Wednesday. They issued an “overweight” rating and a $243.00 price target on the stock. Oppenheimer raised their price objective on shares of Talen Energy from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. UBS Group boosted their target price on shares of Talen Energy from $242.00 to $269.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Bank of America assumed coverage on shares of Talen Energy in a report on Monday, February 3rd. They set a “buy” rating and a $253.00 target price for the company. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $241.36.

Talen Energy Stock Down 2.0 %

The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10. The company has a market cap of $8.97 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 2.70 and a beta of 2.00. The business’s 50 day simple moving average is $220.35 and its 200-day simple moving average is $183.69.

Institutional Trading of Talen Energy

A number of institutional investors have recently added to or reduced their stakes in TLN. Allworth Financial LP lifted its stake in shares of Talen Energy by 170.6% in the 4th quarter. Allworth Financial LP now owns 184 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 116 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Talen Energy during the 4th quarter valued at about $37,000. Geneos Wealth Management Inc. bought a new position in shares of Talen Energy in the 4th quarter valued at approximately $39,000. BNP Paribas Financial Markets bought a new stake in Talen Energy during the third quarter worth approximately $36,000. Finally, Empowered Funds LLC acquired a new position in Talen Energy during the fourth quarter valued at approximately $42,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

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.