Hsbc Holdings PLC Buys 23,299 Shares of Talen Energy Corporation $TLN

Hsbc Holdings PLC grew its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 2,452.5% during the 4th quarter, Holdings Channel reports. The firm owned 24,249 shares of the utilities provider’s stock after buying an additional 23,299 shares during the period. Hsbc Holdings PLC’s holdings in Talen Energy were worth $9,192,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Talen Energy during the 4th quarter worth approximately $9,830,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Talen Energy by 1,825.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 154 shares of the utilities provider’s stock valued at $58,000 after buying an additional 146 shares in the last quarter. Mariner Investment Group LLC acquired a new position in Talen Energy during the fourth quarter worth $1,874,000. Pacer Advisors Inc. lifted its stake in Talen Energy by 35.7% in the fourth quarter. Pacer Advisors Inc. now owns 8,238 shares of the utilities provider’s stock valued at $3,088,000 after acquiring an additional 2,168 shares during the last quarter. Finally, Arrow Capital Management LLC acquired a new stake in Talen Energy in the fourth quarter valued at $10,512,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TLN. Barclays boosted their price objective on shares of Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 19th. BNP Paribas Exane assumed coverage on Talen Energy in a report on Wednesday, March 18th. They set an “outperform” rating and a $548.00 price target for the company. The Goldman Sachs Group initiated coverage on Talen Energy in a research report on Thursday, June 18th. They set a “buy” rating and a $499.00 price target on the stock. Wells Fargo & Company upped their price objective on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a research report on Monday, April 27th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Talen Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $458.77.

Talen Energy Stock Performance

NASDAQ TLN opened at $404.09 on Friday. The stock has a market cap of $19.35 billion, a PE ratio of -603.11 and a beta of 1.80. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. The firm has a 50-day moving average of $374.08 and a 200-day moving average of $360.97. Talen Energy Corporation has a 52-week low of $255.50 and a 52-week high of $451.28.

Insiders Place Their Bets

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the transaction, the director directly owned 2,606 shares of the company’s stock, valued at $990,280. This represents a 49.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.78% of the stock is currently owned by corporate insiders.

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).