Bank of Nova Scotia boosted its stake in shares of Talen Energy Corporation (NASDAQ:TLN – Free Report) by 302.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 101,566 shares of the utilities provider’s stock after buying an additional 76,354 shares during the period. Bank of Nova Scotia’s holdings in Talen Energy were worth $32,423,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in TLN. State of Wyoming raised its position in Talen Energy by 86.1% during the 1st quarter. State of Wyoming now owns 3,466 shares of the utilities provider’s stock valued at $1,106,000 after purchasing an additional 1,604 shares in the last quarter. Cetera Investment Advisers grew its position in Talen Energy by 1.4% during the 1st quarter. Cetera Investment Advisers now owns 7,817 shares of the utilities provider’s stock worth $2,495,000 after purchasing an additional 109 shares during the last quarter. First Trust Advisors LP grew its stake in Talen Energy by 5.7% during the 1st quarter. First Trust Advisors LP now owns 61,815 shares of the utilities provider’s stock valued at $19,733,000 after purchasing an additional 3,327 shares during the last quarter. Himension Capital Singapore PTE. LTD. purchased a new stake in Talen Energy in the first quarter valued at approximately $524,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Talen Energy by 8.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,014 shares of the utilities provider’s stock worth $643,000 after purchasing an additional 152 shares during the last quarter. Institutional investors own 0.38% of the company’s stock.
Talen Energy Stock Down 5.1%
Talen Energy stock opened at $359.90 on Friday. The company has a market capitalization of $17.24 billion, a PE ratio of -537.16 and a beta of 1.82. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. Talen Energy Corporation has a fifty-two week low of $301.45 and a fifty-two week high of $451.28. The firm has a 50 day moving average price of $379.23 and a 200 day moving average price of $361.82.
Insider Buying and Selling at Talen Energy
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on TLN shares. Wells Fargo & Company boosted their price target on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Raymond James Financial reissued an “outperform” rating and set a $457.00 target price on shares of Talen Energy in a research note on Monday, April 27th. Scotiabank upped their price objective on shares of Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a report on Wednesday, July 15th. Jefferies Financial Group dropped their price objective on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a report on Monday. Finally, Barclays raised their price objective on shares of Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $476.27.
Read Our Latest Stock Report on Talen Energy
Talen Energy Profile
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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