Pictet Asset Management Holding SA trimmed its holdings in Talen Energy Corporation (NASDAQ:TLN – Free Report) by 26.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 200,323 shares of the utilities provider’s stock after selling 73,124 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Talen Energy were worth $62,639,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. acquired a new position in Talen Energy during the second quarter worth about $1,673,803,000. MFN Partners Management LP acquired a new stake in Talen Energy in the 2nd quarter valued at about $1,152,780,000. Two Seas Capital LP acquired a new stake in Talen Energy in the 2nd quarter valued at about $194,900,000. William Blair Investment Management LLC acquired a new stake in Talen Energy in the 2nd quarter valued at about $191,231,000. Finally, Bank of New York Mellon Corp purchased a new position in Talen Energy in the 2nd quarter worth approximately $111,768,000. 0.38% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
TLN has been the topic of several recent research reports. Weiss Ratings cut Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 18th. Zacks Research cut Talen Energy from a “hold” rating to a “strong sell” rating in a report on Thursday, October 22nd. TD Cowen began coverage on Talen Energy in a report on Thursday, October 22nd. They issued a “buy” rating and a $475.00 price target for the company. Scotiabank lifted their price objective on Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 15th. Finally, New Street Research set a $405.00 price objective on Talen Energy in a research note on Monday, August 24th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $458.69.
View Our Latest Stock Analysis on TLN
Talen Energy Trading Up 7.2%
Shares of TLN opened at $363.13 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 5.95. Talen Energy Corporation has a 12-month low of $279.77 and a 12-month high of $449.84. The firm has a 50-day moving average price of $328.55 and a 200 day moving average price of $348.39. The firm has a market capitalization of $15.80 billion, a P/E ratio of -65.55 and a beta of 1.77.
Talen Energy (NASDAQ:TLN – Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The utilities provider reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($5.45). Talen Energy had a positive return on equity of 53.70% and a negative net margin of 6.43%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the business posted $4.25 earnings per share. Sell-side analysts forecast that Talen Energy Corporation will post 15.26 EPS for the current year.
Talen Energy Profile
Talen Energy Corporation is an independent power producer that owns and operates electricity-generation facilities in the United States. Its portfolio includes nuclear, natural gas, coal, oil and hydroelectric assets, with the Susquehanna nuclear power plant in Pennsylvania among its major facilities.
The company sells electricity and related products, including capacity and ancillary services, primarily through wholesale power markets. Its operations are concentrated in the Mid-Atlantic region served by PJM Interconnection, with additional generation assets in other U.S.
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