Jefferies Financial Group Inc. Acquires Shares of 2,259 Talen Energy Corporation $TLN

Jefferies Financial Group Inc. acquired a new stake in Talen Energy Corporation (NASDAQ:TLNFree Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,259 shares of the utilities provider’s stock, valued at approximately $868,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. acquired a new position in Talen Energy in the 2nd quarter valued at about $1,673,803,000. MFN Partners Management LP acquired a new stake in Talen Energy during the second quarter worth approximately $1,152,780,000. State Street Corp lifted its position in Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after acquiring an additional 627,467 shares during the last quarter. Norges Bank bought a new stake in shares of Talen Energy during the fourth quarter worth approximately $225,930,000. Finally, Two Seas Capital LP bought a new stake in shares of Talen Energy during the second quarter worth approximately $194,900,000. Institutional investors own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TLN. Jefferies Financial Group lowered their target price on Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. Mizuho initiated coverage on Talen Energy in a research note on Monday, August 24th. They issued an “outperform” rating and a $405.00 price target for the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $509.00 price objective on shares of Talen Energy in a report on Monday, August 10th. Barclays decreased their price objective on Talen Energy from $411.00 to $408.00 and set an “overweight” rating on the stock in a report on Tuesday, July 28th. Finally, Wells Fargo & Company lifted their target price on Talen Energy from $482.00 to $501.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $466.86.

Read Our Latest Stock Report on Talen Energy

Talen Energy Stock Performance

NASDAQ TLN opened at $296.11 on Monday. The firm has a 50-day moving average price of $358.05 and a two-hundred day moving average price of $356.15. Talen Energy Corporation has a 12-month low of $294.75 and a 12-month high of $451.28. The company has a market capitalization of $14.19 billion, a P/E ratio of -71.01 and a beta of 1.90. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82.

Talen Energy (NASDAQ:TLNGet Free Report) last announced its earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) EPS for the quarter, missing the consensus estimate of $3.21 by ($5.21). Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%.The business had revenue of $747.00 million for the quarter, compared to the consensus estimate of $832.81 million. Analysts anticipate that Talen Energy Corporation will post 21.99 earnings per share for the current year.

Insider Transactions at Talen Energy

In related news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the sale, the director owned 2,606 shares of the company’s stock, valued at $990,280. This represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.78% of the stock is owned by corporate insiders.

About Talen Energy

(Free Report)

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).

Further Reading

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Institutional Ownership by Quarter for Talen Energy (NASDAQ:TLN)

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