Talen Energy Corporation (NASDAQ:TLN - Get Free Report) major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the stock in a transaction dated Friday, December 13th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Talen Energy Stock Performance
Shares of TLN stock opened at $209.22 on Tuesday. The firm has a 50 day moving average of $188.70 and a 200-day moving average of $133.94. The company has a market cap of $10.64 billion and a price-to-earnings ratio of 11.20. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07. Talen Energy Corporation has a 52 week low of $58.28 and a 52 week high of $230.89.
Institutional Investors Weigh In On Talen Energy
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Several hedge funds and other institutional investors have recently bought and sold shares of TLN. BNP Paribas Financial Markets acquired a new stake in shares of Talen Energy in the 3rd quarter valued at about $36,000. Spirit of America Management Corp NY acquired a new stake in Talen Energy in the third quarter valued at approximately $214,000. World Equity Group Inc. bought a new stake in shares of Talen Energy during the third quarter valued at approximately $237,000. Point72 Hong Kong Ltd bought a new position in shares of Talen Energy in the 3rd quarter worth $257,000. Finally, Tidal Investments LLC acquired a new stake in Talen Energy in the 3rd quarter valued at $304,000. 0.38% of the stock is owned by institutional investors.
Analyst Ratings Changes
TLN has been the subject of a number of research reports. BWS Financial increased their price target on Talen Energy from $145.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, September 6th. UBS Group raised their price objective on shares of Talen Energy from $197.00 to $242.00 and gave the company a "buy" rating in a report on Friday, November 15th. Barclays upped their price target on shares of Talen Energy from $202.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday. Oppenheimer boosted their price objective on shares of Talen Energy from $225.00 to $250.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Finally, Guggenheim raised their target price on Talen Energy from $219.00 to $246.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $222.40.
Read Our Latest Analysis on TLN
About Talen Energy
(
Get Free Report)
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.
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