First Horizon Advisors Inc. Acquires 488 Shares of Talen Energy Corporation $TLN

First Horizon Advisors Inc. lifted its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 107.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 941 shares of the utilities provider’s stock after purchasing an additional 488 shares during the quarter. First Horizon Advisors Inc.’s holdings in Talen Energy were worth $274,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Russell Investments Group Ltd. raised its holdings in Talen Energy by 75.8% during the first quarter. Russell Investments Group Ltd. now owns 17,502 shares of the utilities provider’s stock valued at $3,495,000 after buying an additional 7,547 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new position in shares of Talen Energy during the 1st quarter valued at about $756,000. TCW Group Inc. bought a new position in shares of Talen Energy in the 1st quarter valued at approximately $9,266,000. Advisors Asset Management Inc. bought a new position in shares of Talen Energy in the 1st quarter valued at approximately $246,000. Finally, Principal Financial Group Inc. lifted its holdings in Talen Energy by 114.9% in the 1st quarter. Principal Financial Group Inc. now owns 3,591 shares of the utilities provider’s stock worth $717,000 after purchasing an additional 1,920 shares during the last quarter. Institutional investors and hedge funds own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TLN. Barclays lowered their price target on Talen Energy from $440.00 to $439.00 and set an “overweight” rating on the stock in a report on Tuesday, October 21st. Melius Research lifted their target price on shares of Talen Energy from $427.00 to $576.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Scotiabank assumed coverage on shares of Talen Energy in a research report on Monday, September 22nd. They set a “sector perform” rating and a $418.00 target price for the company. Melius initiated coverage on Talen Energy in a research report on Wednesday, August 20th. They issued a “buy” rating and a $427.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Talen Energy in a research report on Wednesday, October 8th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Talen Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $395.07.

Talen Energy Stock Performance

NASDAQ TLN opened at $386.57 on Friday. The company’s fifty day moving average is $407.51 and its two-hundred day moving average is $331.91. Talen Energy Corporation has a 52-week low of $158.08 and a 52-week high of $451.28. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.29 and a quick ratio of 1.34. The firm has a market capitalization of $17.66 billion, a price-to-earnings ratio of 83.67, a P/E/G ratio of 2.35 and a beta of 1.83.

Talen Energy (NASDAQ:TLN) last announced its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. Talen Energy had a net margin of 9.83% and a return on equity of 13.52%. The business had revenue of $812.00 million during the quarter, compared to analyst estimates of $707.90 million. During the same quarter in the prior year, the business earned $3.16 earnings per share. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. Equities research analysts forecast that Talen Energy Corporation will post 15.94 EPS for the current year.

About Talen Energy

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.