Elevation Point Wealth Partners LLC acquired a new position in Talen Energy Corporation (NASDAQ:TLN – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 6,344 shares of the utilities provider’s stock, valued at approximately $2,438,000.
A number of other institutional investors have also recently bought and sold shares of TLN. Advisory Services Network LLC purchased a new position in Talen Energy during the 3rd quarter valued at about $35,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Talen Energy by 1,500.0% in 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. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Talen Energy in the second quarter worth approximately $38,000. Bessemer Group Inc. boosted its holdings in shares of Talen Energy by 404.0% during the first quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 101 shares during the period. Finally, Silvant Capital Management LLC acquired a new stake in shares of Talen Energy during the second quarter worth approximately $42,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.
Talen Energy Stock Performance
NASDAQ:TLN opened at $314.46 on Monday. The company has a market capitalization of $15.07 billion, a P/E ratio of -75.41 and a beta of 1.90. The stock’s 50 day moving average price is $369.15 and its 200 day moving average price is $357.29. The company has a debt-to-equity ratio of 5.82, a quick ratio of 0.55 and a current ratio of 0.78. Talen Energy Corporation has a 52 week low of $301.45 and a 52 week high of $451.28.
Analysts Set New Price Targets
Several research analysts have weighed in on TLN shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $509.00 price objective on shares of Talen Energy in a research note on Monday, August 10th. Susquehanna set a $449.00 price target on shares of Talen Energy in a report on Friday, August 7th. Weiss Ratings downgraded shares of Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 18th. Wells Fargo & Company increased their price objective on Talen Energy from $482.00 to $501.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, BNP Paribas Exane reissued an “outperform” rating and set a $560.00 price objective on shares of Talen Energy in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $477.17.
Check Out Our Latest Stock Analysis on Talen Energy
Insider Buying and Selling at Talen Energy
In other news, Director Gizman I. Abbas sold 2,600 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the transaction, the director owned 2,606 shares in the company, valued at approximately $990,280. This trade represents a 49.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.78% of the company’s stock.
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).
Recommended Stories
- Five stocks we like better than Talen Energy
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Want to see what other hedge funds are holding TLN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Talen Energy Corporation (NASDAQ:TLN – Free Report).
Receive News & Ratings for Talen Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Talen Energy and related companies with MarketBeat.com's FREE daily email newsletter.
