Wellington Management Group LLP decreased its position in shares of Talen Energy Corporation (NASDAQ:TLN – Free Report) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 155,866 shares of the utilities provider’s stock after selling 2,848 shares during the period. Wellington Management Group LLP’s holdings in Talen Energy were worth $59,893,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. Archer Investment Corp acquired a new position in shares of Talen Energy during the second quarter worth $264,000. Beacon Pointe Advisors LLC acquired a new stake in shares of Talen Energy in the 2nd quarter worth $455,000. Empowered Funds LLC purchased a new position in Talen Energy during the 2nd quarter worth $6,064,000. Brasada Capital Management LP purchased a new position in Talen Energy during the 2nd quarter worth $288,000. Finally, Jefferies Financial Group Inc. acquired a new position in Talen Energy during the 2nd quarter valued at about $868,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Talen Energy
In other news, Director Gizman I. Abbas sold 2,600 shares of the company’s stock in a transaction 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 sale, the director directly owned 2,606 shares of the company’s stock, valued at $990,280. This represents a 49.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.78% of the stock is owned by company insiders.
Talen Energy Trading Up 2.8%
Talen Energy (NASDAQ:TLN – Get Free Report) last issued its earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) EPS for the quarter, missing analysts’ consensus estimates of $3.21 by ($5.21). Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. The firm had revenue of $747.00 million during the quarter, compared to analysts’ expectations of $832.81 million. Equities analysts predict that Talen Energy Corporation will post 21.99 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. Susquehanna set a $449.00 price target on Talen Energy in a research note on Friday, August 7th. Jefferies Financial Group dropped their price target 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. Weiss Ratings downgraded shares of Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 18th. Morgan Stanley decreased their price objective on shares of Talen Energy from $508.00 to $503.00 and set an “overweight” rating for the company in a research report on Friday, August 21st. Finally, Wells Fargo & Company lifted their target price on shares of Talen Energy from $482.00 to $501.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $466.86.
Get Our Latest Stock Report on TLN
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).
Featured Articles
- Five stocks we like better than Talen Energy
- Striking Oil: How the U.S. Play for Venezuela Fuels Supermajors
- J.M. Smucker Stock’s Rally Has More Than Tariffs Behind It
- Wendy’s Rally Fades After Trian Steps Back: Was It Ever Real?
- GitLab’s Earnings Beat Just Gave Software Bulls a New SaaSpocalypse Test
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.
