Janney Montgomery Scott LLC Has $2.13 Million Stock Position in Talen Energy Corporation $TLN

Janney Montgomery Scott LLC reduced its stake in Talen Energy Corporation (NASDAQ:TLN) by 42.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,663 shares of the utilities provider’s stock after selling 4,966 shares during the period. Janney Montgomery Scott LLC’s holdings in Talen Energy were worth $2,127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TLN. Amundi acquired a new stake in Talen Energy in the 1st quarter valued at $299,000. AQR Capital Management LLC bought a new position in shares of Talen Energy during the first quarter valued at $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 acquiring an additional 761 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Talen Energy by 17,400.0% in the 1st 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 boosted its stake in shares of Talen Energy by 15.3% in the 1st 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 and hedge funds.

Talen Energy Stock Performance

Shares of NASDAQ:TLN opened at $367.88 on Thursday. The business has a fifty day moving average of $377.35 and a 200-day moving average of $361.70. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. Talen Energy Corporation has a twelve month low of $255.50 and a twelve month high of $451.28. The firm has a market cap of $17.62 billion, a PE ratio of -549.07 and a beta of 1.82.

Wall Street Analyst Weigh In

TLN has been the subject of a number of recent analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $508.00 target price on shares of Talen Energy in a research report on Wednesday, June 24th. BNP Paribas Exane began coverage on shares of Talen Energy in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price target on the stock. Barclays upped 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. Raymond James Financial reaffirmed an “outperform” rating and set a $457.00 price objective on shares of Talen Energy in a report on Monday, April 27th. Finally, Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Talen Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $458.77.

Insider Buying and Selling

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the firm’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 owned 2,606 shares in the company, valued at approximately $990,280. This trade represents a 49.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.78% of the stock is currently owned by corporate insiders.

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).