VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Talen Energy Corporation (NASDAQ:TLN – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 13,320 shares of the utilities provider’s stock, valued at approximately $5,118,000.
Other hedge funds have also modified their holdings of the company. Continuum Advisory LLC acquired a new position in Talen Energy in the 2nd quarter valued at about $33,000. Advisory Services Network LLC acquired a new stake in shares of Talen Energy in the 3rd quarter worth approximately $35,000. Northwestern Mutual Wealth Management Co. grew its stake in Talen Energy by 1,500.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 90 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Talen Energy during the 2nd quarter worth approximately $38,000. Finally, Bessemer Group Inc. boosted its stake in shares of Talen Energy by 404.0% during the first quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 101 shares during the last quarter. 0.38% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, Director Gizman Abbas sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the transaction, the director owned 2,606 shares in the company, valued at $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 posted its earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) EPS for the quarter, missing the consensus estimate of $3.21 by ($5.21). The business had revenue of $747.00 million during the quarter, compared to analyst estimates of $832.81 million. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. Sell-side analysts expect that Talen Energy Corporation will post 21.99 earnings per share for the current year.
Analysts Set New Price Targets
Several research firms have commented on TLN. Weiss Ratings cut shares of Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 18th. Susquehanna set a $449.00 target price on Talen Energy in a report on Friday, August 7th. New Street Research set a $405.00 target price on Talen Energy in a research report on Monday, August 24th. Barclays decreased their price objective on shares of Talen Energy from $411.00 to $408.00 and set an “overweight” rating for the company in a research report on Tuesday, July 28th. Finally, BNP Paribas Exane reaffirmed an “outperform” rating and issued a $560.00 price target on shares of Talen Energy in a report on Wednesday, August 19th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $468.15.
Get Our Latest Research Report on Talen Energy
Talen Energy Company 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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