Independent Financial Group LLC Invests $592,000 in Talen Energy Corporation $TLN

Independent Financial Group LLC bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,855 shares of the utilities provider’s stock, valued at approximately $592,000.

Several other hedge funds have also modified their holdings of the business. State Street Corp boosted its stake in shares of Talen Energy by 88.2% in the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after buying an additional 627,467 shares in the last quarter. Norges Bank acquired a new stake in Talen Energy in the fourth quarter valued at $225,930,000. Invesco Ltd. lifted its holdings in Talen Energy by 77.5% in the third quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock valued at $452,189,000 after acquiring an additional 464,014 shares during the period. Sachem Head Capital Management LP boosted its position in shares of Talen Energy by 72.4% during the 4th quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider’s stock worth $374,840,000 after purchasing an additional 420,000 shares in the last quarter. Finally, Deltroit Asset Management UK LLP purchased a new stake in shares of Talen Energy during the 4th quarter worth $103,081,000. 0.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Gizman I. Abbas sold 2,600 shares of the business’s 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 sale, the director directly owned 2,606 shares in the company, valued at $990,280. The trade was a 49.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.78% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TLN has been the topic of a number of recent analyst reports. The Goldman Sachs Group assumed coverage on shares of Talen Energy in a research note on Thursday, June 18th. They set a “buy” rating and a $499.00 price target on the stock. 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 report on Tuesday, May 19th. Raymond James Financial restated an “outperform” rating and set a $457.00 target price on shares of Talen Energy in a research report on Monday, April 27th. Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $508.00 price target on shares of Talen Energy in a research report on Wednesday, June 24th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $472.50.

Talen Energy Stock Up 3.1%

Talen Energy stock opened at $377.41 on Thursday. 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 market capitalization of $18.08 billion, a price-to-earnings ratio of -563.29 and a beta of 1.82. Talen Energy Corporation has a fifty-two week low of $301.45 and a fifty-two week high of $451.28. The stock’s fifty day moving average is $378.19 and its two-hundred day moving average is $361.95.

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).