Hsbc Holdings PLC boosted its holdings in shares of Talen Energy Corporation (NASDAQ:TLN – Free Report) by 2,452.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,249 shares of the utilities provider’s stock after buying an additional 23,299 shares during the period. Hsbc Holdings PLC’s holdings in Talen Energy were worth $9,192,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Flagship Harbor Advisors LLC purchased a new stake in shares of Talen Energy in the 4th quarter valued at about $27,000. Advisory Services Network LLC purchased a new position in shares of Talen Energy during the third quarter worth about $35,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Talen Energy by 1,500.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 90 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Talen Energy in the fourth quarter worth approximately $39,000. Finally, Rothschild Investment LLC increased its position in shares of Talen Energy by 235.0% in the fourth quarter. Rothschild Investment LLC now owns 134 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 94 shares during the last quarter. 0.38% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. The Goldman Sachs Group started coverage on shares of Talen Energy in a research report on Thursday, June 18th. They set a “buy” rating and a $499.00 price objective on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $457.00 price objective on shares of Talen Energy in a report on Monday, April 27th. Jefferies Financial Group lowered shares of Talen Energy from a “buy” rating to a “hold” rating and set a $453.00 target price for the company. in a research report on Tuesday, June 23rd. Finally, BNP Paribas Exane started coverage on Talen Energy in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 target price on the stock. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $458.77.
Insider Activity at Talen Energy
In other news, Director Gizman I. Abbas sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the sale, the director directly owned 2,606 shares in the company, valued at approximately $990,280. The trade was a 49.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.78% of the company’s stock.
Talen Energy Stock Performance
NASDAQ:TLN opened at $367.88 on Thursday. The company has a market capitalization of $17.62 billion, a price-to-earnings ratio of -549.07 and a beta of 1.82. The business has a 50 day moving average of $377.35 and a 200 day moving average of $361.70. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05. Talen Energy Corporation has a 1-year low of $255.50 and a 1-year high of $451.28.
Talen Energy 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).
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