Tidal Investments LLC grew its position in Talen Energy Corporation (NASDAQ:TLN – Free Report) by 84.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,686 shares of the utilities provider’s stock after purchasing an additional 21,406 shares during the period. Tidal Investments LLC’s holdings in Talen Energy were worth $17,940,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Continuum Advisory LLC acquired a new stake in shares of Talen Energy during the 2nd quarter valued at about $33,000. Advisory Services Network LLC acquired a new position in Talen Energy in the third quarter worth approximately $35,000. Northwestern Mutual Wealth Management Co. raised its position in Talen Energy by 1,500.0% during the fourth 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Talen Energy during the second quarter valued at approximately $38,000. Finally, Bessemer Group Inc. lifted its stake in Talen Energy by 404.0% in 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 owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
TLN has been the subject of several recent research reports. New Street Research set a $405.00 target price on shares of Talen Energy in a research report on Monday, August 24th. Scotiabank raised their price target 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. Wall Street Zen lowered shares of Talen Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Susquehanna set a $449.00 price objective on shares of Talen Energy in a report on Friday, August 7th. Finally, Jefferies Financial Group lowered their target price on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Eight 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. Based on data from MarketBeat, Talen Energy currently has an average rating of “Moderate Buy” and a consensus price target of $459.17.
Insiders Place Their Bets
In other Talen Energy news, Director Gizman Abbas sold 2,600 shares of the business’s stock in a transaction 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 completion of the transaction, the director owned 2,606 shares of the company’s stock, valued at $990,280. The trade was a 49.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.78% of the stock is currently owned by corporate insiders.
Talen Energy Trading Down 2.5%
NASDAQ:TLN opened at $311.54 on Friday. Talen Energy Corporation has a 12 month low of $288.58 and a 12 month high of $451.28. The firm has a market cap of $14.93 billion, a price-to-earnings ratio of -74.71 and a beta of 1.84. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82. The company’s 50 day moving average is $342.09 and its 200-day moving average is $352.09.
Talen Energy (NASDAQ:TLN – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (EPS) for the quarter, missing the consensus estimate of $3.21 by ($5.21). Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%.The firm had revenue of $747.00 million for the quarter, compared to the consensus estimate of $832.81 million. Equities analysts anticipate that Talen Energy Corporation will post 21.99 EPS for the current year.
Talen Energy Company Profile
Talen Energy Corporation is an independent power producer that owns and operates electricity-generating facilities in the United States. Its portfolio includes nuclear, natural gas, and other generation assets, which supply electricity to wholesale markets and customers across several regions.
The company’s principal business activities include generating and selling electricity, capacity, and ancillary services. Talen’s nuclear operations include the Susquehanna Steam Electric Station in Pennsylvania, while its broader portfolio serves markets primarily within the Eastern and Southern United States, including the PJM Interconnection.
Talen Energy was formed in 2015 through the combination of RRI Energy and power-generation assets owned by affiliates of Riverstone Holdings.
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