Yacktman Asset Management LP Lowers Holdings in Talen Energy Corporation $TLN

Yacktman Asset Management LP decreased its holdings in Talen Energy Corporation (NASDAQ:TLN) by 18.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 360,100 shares of the utilities provider’s stock after selling 83,600 shares during the period. Talen Energy accounts for about 2.1% of Yacktman Asset Management LP’s portfolio, making the stock its 16th biggest holding. Yacktman Asset Management LP’s holdings in Talen Energy were worth $153,179,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TLN. Atlantic Union Bankshares Corp purchased a new position in shares of Talen Energy in the second quarter worth $27,000. MAI Capital Management lifted its position in shares of Talen Energy by 115.7% in the second quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock worth $32,000 after buying an additional 59 shares in the last quarter. Grove Bank & Trust bought a new position in Talen Energy during the third quarter valued at approximately $32,000. Golden State Wealth Management LLC grew its holdings in Talen Energy by 5,100.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 156 shares of the utilities provider’s stock valued at $45,000 after buying an additional 153 shares in the last quarter. Finally, Berbice Capital Management LLC bought a new stake in Talen Energy in the 2nd quarter worth approximately $49,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Trading Down 3.8%

NASDAQ TLN opened at $348.36 on Monday. Talen Energy Corporation has a 12 month low of $158.08 and a 12 month high of $451.28. The company’s 50-day moving average price is $372.46 and its 200-day moving average price is $382.43. The stock has a market cap of $15.92 billion, a PE ratio of 75.40, a PEG ratio of 0.52 and a beta of 1.99. 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 (NASDAQ:TLN) last issued its earnings results on Wednesday, November 5th. The utilities provider reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. Talen Energy had a net margin of 9.83% and a return on equity of 13.52%. The business had revenue of $812.00 million for the quarter, compared to the consensus estimate of $707.90 million. During the same period in the prior year, the firm earned $3.16 EPS. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. Equities research analysts forecast that Talen Energy Corporation will post 15.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TLN. Barclays increased their target price on Talen Energy from $439.00 to $457.00 and gave the company an “overweight” rating in a research report on Friday, January 9th. Wells Fargo & Company lifted their price objective on shares of Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Morgan Stanley lifted their price target on Talen Energy from $443.00 to $470.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. JPMorgan Chase & Co. upped their price objective on Talen Energy from $432.00 to $442.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Talen Energy in a report on Wednesday, January 21st. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Talen Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $400.92.

About Talen Energy

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).