Man Group plc Takes $1.51 Million Position in Talen Energy Corporation $TLN

Man Group plc acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,930 shares of the utilities provider’s stock, valued at approximately $1,510,000.

Several other institutional investors have also made changes to their positions in the business. Advisory Services Network LLC bought a new stake in Talen Energy in the third quarter valued at about $35,000. Northwestern Mutual Wealth Management Co. lifted its stake 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 worth $36,000 after purchasing an additional 90 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Talen Energy during the second quarter valued at approximately $38,000. Bessemer Group Inc. boosted its holdings in 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 purchasing an additional 101 shares in the last quarter. Finally, Silvant Capital Management LLC bought a new stake in shares of Talen Energy in the 2nd quarter valued at approximately $42,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Stock Up 2.8%

Talen Energy stock opened at $302.03 on Thursday. The company has a 50 day moving average of $350.76 and a 200-day moving average of $354.82. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82. Talen Energy Corporation has a twelve month low of $288.58 and a twelve month high of $451.28. The stock has a market capitalization of $14.47 billion, a PE ratio of -72.43 and a beta of 1.84.

Talen Energy (NASDAQ:TLN) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) EPS for the quarter, missing analysts’ consensus estimates of $3.21 by ($5.21). The company had revenue of $747.00 million for the quarter, compared to analyst estimates of $832.81 million. Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%. On average, equities research analysts anticipate that Talen Energy Corporation will post 21.99 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays cut their target price on Talen Energy from $411.00 to $408.00 and set an “overweight” rating for the company in a research report on Tuesday, July 28th. Susquehanna set a $449.00 price objective on Talen Energy in a research note on Friday, August 7th. Weiss Ratings lowered shares of Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 18th. New Street Research set a $405.00 target price on shares of Talen Energy in a research report on Monday, August 24th. Finally, Morgan Stanley dropped their price target on shares of Talen Energy from $508.00 to $503.00 and set an “overweight” rating for the company in a research note on Friday, August 21st. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Talen Energy currently has an average rating of “Moderate Buy” and an average price target of $466.86.

Insider Transactions at Talen Energy

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction dated Monday, June 15th. The stock was 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 in the company, valued at approximately $990,280. This represents a 49.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.78% of the company’s stock.

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).