Picton Mahoney Asset Management Invests $13.30 Million in Talen Energy Corporation $TLN

Picton Mahoney Asset Management bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN) in the second quarter, Holdings Channel.com reports. The institutional investor bought 45,746 shares of the utilities provider’s stock, valued at approximately $13,301,000.

A number of other large investors have also recently bought and sold shares of TLN. Prudential Financial Inc. purchased a new position in Talen Energy during the 2nd quarter worth approximately $1,274,000. Charles Schwab Investment Management Inc. increased its stake in shares of Talen Energy by 5.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 415,465 shares of the utilities provider’s stock worth $120,805,000 after acquiring an additional 20,822 shares during the period. Rhumbline Advisers raised its holdings in shares of Talen Energy by 1,947.5% during the second quarter. Rhumbline Advisers now owns 39,927 shares of the utilities provider’s stock worth $11,610,000 after purchasing an additional 37,977 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Talen Energy by 8.7% during the second quarter. Legal & General Group Plc now owns 32,163 shares of the utilities provider’s stock worth $9,352,000 after purchasing an additional 2,561 shares during the last quarter. Finally, Brandywine Global Investment Management LLC lifted its position in Talen Energy by 81.0% during the second quarter. Brandywine Global Investment Management LLC now owns 10,123 shares of the utilities provider’s stock valued at $2,943,000 after purchasing an additional 4,530 shares during the period. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Performance

Shares of TLN stock opened at $380.49 on Tuesday. The company has a current ratio of 2.29, a quick ratio of 1.72 and a debt-to-equity ratio of 2.02. Talen Energy Corporation has a 12-month low of $158.08 and a 12-month high of $451.28. The business’s 50 day moving average is $403.82 and its two-hundred day moving average is $345.50. The company has a market capitalization of $17.38 billion, a P/E ratio of 82.36, a P/E/G ratio of 1.99 and a beta of 1.83.

Talen Energy (NASDAQ:TLN) last posted its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. Talen Energy had a return on equity of 13.52% and a net margin of 9.83%.The business had revenue of $812.00 million during the quarter, compared to analysts’ expectations of $707.90 million. During the same period in the previous year, the business earned $3.16 earnings per share. The business’s revenue was up 24.9% compared to the same quarter last year. Analysts expect that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays cut their price target on Talen Energy from $440.00 to $439.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 21st. Melius Research raised their target price on Talen Energy from $427.00 to $576.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Zacks Research downgraded Talen Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 18th. Wall Street Zen upgraded Talen Energy from a “sell” rating to a “hold” rating in a research report on Monday, August 11th. Finally, Morgan Stanley cut their target price on shares of Talen Energy from $442.00 to $441.00 and set an “overweight” rating for the company in a report on Tuesday, October 28th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $395.07.

Talen Energy Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.