32,673 Shares in Talen Energy Corporation $TLN Acquired by North Point Portfolio Managers Corp OH

North Point Portfolio Managers Corp OH acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 32,673 shares of the utilities provider’s stock, valued at approximately $10,430,000. Talen Energy accounts for about 1.9% of North Point Portfolio Managers Corp OH’s holdings, making the stock its 29th largest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Amundi acquired a new position in Talen Energy during the 1st quarter worth $299,000. AQR Capital Management LLC acquired a new position in shares of Talen Energy during the first quarter valued at $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Talen Energy by 11.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock valued at $1,454,000 after purchasing an additional 761 shares during the period. NewEdge Advisors LLC raised its stake in shares of Talen Energy by 17,400.0% during the first quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock valued at $175,000 after purchasing an additional 870 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Talen Energy by 15.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock valued at $9,794,000 after purchasing an additional 6,498 shares in the last quarter. 0.38% of the stock is owned by institutional investors.

Talen Energy Trading Down 3.8%

Shares of TLN stock opened at $384.26 on Wednesday. The stock has a 50-day simple moving average of $375.20 and a 200 day simple moving average of $361.57. The stock has a market capitalization of $18.41 billion, a P/E ratio of -573.51 and a beta of 1.80. Talen Energy Corporation has a fifty-two week low of $255.50 and a fifty-two week high of $451.28. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32.

Insiders Place Their Bets

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the company’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 completion of the sale, the director directly owned 2,606 shares of the company’s stock, valued at approximately $990,280. This represents a 49.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $508.00 target price on shares of Talen Energy in a research report on Wednesday, June 24th. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. The Goldman Sachs Group started coverage on shares of Talen Energy in a research note on Thursday, June 18th. They issued a “buy” rating and a $499.00 price target for the company. Raymond James Financial reiterated an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a report on Monday, April 27th. Finally, Barclays boosted their target price on Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $458.77.

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).