Penn Capital Management Company LLC decreased its holdings in Talen Energy Corporation (NASDAQ:TLN – Free Report) by 79.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 706 shares of the utilities provider’s stock after selling 2,710 shares during the quarter. Penn Capital Management Company LLC’s holdings in Talen Energy were worth $271,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Oppenheimer Asset Management Inc. acquired a new stake in shares of Talen Energy during the 2nd quarter worth $4,132,000. Oppenheimer & Co. Inc. grew its position in Talen Energy by 400.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 14,105 shares of the utilities provider’s stock valued at $5,287,000 after acquiring an additional 11,287 shares during the last quarter. Ninepoint Partners LP acquired a new position in Talen Energy during the second quarter worth about $1,694,000. Sanctuary Advisors LLC lifted its holdings in shares of Talen Energy by 116.8% in the fourth quarter. Sanctuary Advisors LLC now owns 6,454 shares of the utilities provider’s stock worth $2,419,000 after acquiring an additional 3,477 shares during the last quarter. Finally, 180 GPS Investments IC Ltd bought a new position in shares of Talen Energy in the second quarter worth about $8,636,000. Institutional investors own 0.38% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. Zacks Research lowered shares of Talen Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday. Susquehanna set a $449.00 target price on shares of Talen Energy in a research report on Friday, August 7th. BNP Paribas Exane reaffirmed an “outperform” rating and set a $560.00 target price on shares of Talen Energy in a research note on Wednesday, August 19th. The Goldman Sachs Group reiterated a “buy” rating and set a $509.00 price target on shares of Talen Energy in a report on Monday, August 10th. Finally, Barclays dropped their price target on Talen Energy from $411.00 to $408.00 and set an “overweight” rating for the company in a research note on Tuesday, July 28th. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Talen Energy has an average rating of “Moderate Buy” and an average price target of $466.86.
Talen Energy Price Performance
Shares of NASDAQ TLN opened at $296.11 on Monday. The company has a 50 day simple moving average of $358.05 and a 200 day simple moving average of $356.15. The firm has a market cap of $14.19 billion, a PE ratio of -71.01 and a beta of 1.90. Talen Energy Corporation has a 1 year low of $294.75 and a 1 year high of $451.28. The company has a debt-to-equity ratio of 5.82, a current ratio of 0.78 and a quick ratio of 0.55.
Talen Energy (NASDAQ:TLN – Get Free Report) last posted its earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing analysts’ consensus estimates of $3.21 by ($5.21). The business had revenue of $747.00 million for the quarter, compared to the consensus estimate of $832.81 million. Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%. On average, research analysts forecast that Talen Energy Corporation will post 21.99 EPS for the current year.
Insider Buying and Selling at Talen Energy
In related news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction on Monday, June 15th. The stock was 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 $990,280. This represents a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.78% of the stock is currently owned by corporate insiders.
About Talen Energy
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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