RWC Asset Management LLP Trims Holdings in Talen Energy Corporation $TLN

RWC Asset Management LLP cut its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 60.4% during the third quarter, Holdings Channel reports. The firm owned 18,197 shares of the utilities provider’s stock after selling 27,721 shares during the quarter. RWC Asset Management LLP’s holdings in Talen Energy were worth $7,741,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Horizon Corp purchased a new position in Talen Energy in the third quarter valued at approximately $354,000. New York State Teachers Retirement System purchased a new position in Talen Energy during the 3rd quarter worth $13,083,000. Forum Financial Management LP acquired a new stake in Talen Energy in the third quarter valued at about $305,000. Hudock Inc. acquired a new position in shares of Talen Energy in the 3rd quarter valued at $204,000. Finally, Oregon Public Employees Retirement Fund acquired a new position in Talen Energy in the 3rd quarter worth $3,905,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Stock Performance

Shares of Talen Energy stock opened at $369.03 on Tuesday. The stock’s fifty day simple moving average is $374.76 and its 200 day simple moving average is $373.60. The company has a current ratio of 2.29, a quick ratio of 1.72 and a debt-to-equity ratio of 2.02. The company has a market capitalization of $16.86 billion, a PE ratio of 79.88, a PEG ratio of 0.58 and a beta of 1.97. Talen Energy Corporation has a 12 month low of $158.08 and a 12 month high of $451.28.

Talen Energy (NASDAQ:TLN) last released its quarterly 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. The company had revenue of $812.00 million for the quarter, compared to analyst estimates of $707.90 million. Talen Energy had a return on equity of 13.52% and a net margin of 9.83%.Talen Energy’s revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.16 earnings per share. On average, research analysts predict that Talen Energy Corporation will post 15.94 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Zacks Research lowered Talen Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 18th. Wells Fargo & Company decreased their target price on shares of Talen Energy from $453.00 to $445.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Talen Energy in a report on Wednesday, October 8th. Scotiabank began coverage on shares of Talen Energy in a research note on Monday, September 22nd. They set a “sector perform” rating and a $418.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on Talen Energy from $432.00 to $442.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $396.50.

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).