1,875 Shares in Talen Energy Corporation $TLN Purchased by Evolve Private Wealth LLC

Evolve Private Wealth LLC purchased a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,875 shares of the utilities provider’s stock, valued at approximately $720,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TLN. BlackRock Inc. acquired a new position in shares of Talen Energy during the 2nd quarter worth approximately $1,673,803,000. Fred Alger Management LLC lifted its holdings in Talen Energy by 8.4% during the 4th quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider’s stock valued at $676,247,000 after purchasing an additional 140,345 shares during the last quarter. Reaves W H & Co. Inc. lifted its holdings in Talen Energy by 7.9% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock valued at $570,393,000 after purchasing an additional 111,160 shares during the last quarter. Invesco Ltd. boosted its position in Talen Energy by 35.6% during the fourth quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider’s stock worth $540,287,000 after purchasing an additional 378,357 shares during the period. Finally, State Street Corp boosted its position in Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after purchasing an additional 627,467 shares during the period. Institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Performance

TLN opened at $305.54 on Tuesday. The company has a debt-to-equity ratio of 5.82, a current ratio of 0.78 and a quick ratio of 0.55. The business has a fifty day simple moving average of $367.53 and a 200 day simple moving average of $357.04. Talen Energy Corporation has a 1 year low of $301.45 and a 1 year high of $451.28. The company has a market capitalization of $14.64 billion, a PE ratio of -73.27 and a beta of 1.90.

Talen Energy (NASDAQ:TLN) last posted its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing the consensus estimate of $3.21 by ($5.21). Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%.The firm had revenue of $747.00 million for the quarter, compared to the consensus estimate of $832.81 million. Research analysts expect that Talen Energy Corporation will post 25.07 EPS for the current year.

Wall Street Analyst Weigh In

TLN has been the topic of several research analyst reports. Mizuho assumed coverage on shares of Talen Energy in a research report on Monday. They issued an “outperform” rating and a $405.00 price objective on the stock. Scotiabank lifted their target price on shares of Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 15th. BNP Paribas Exane reiterated an “outperform” rating and issued a $560.00 price target on shares of Talen Energy in a research note on Wednesday, August 19th. Zacks Research upgraded shares of Talen Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Finally, Morgan Stanley lowered their price target on shares of Talen Energy from $508.00 to $503.00 and set an “overweight” rating on the stock in a report on Friday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $466.86.

Insider Activity at Talen Energy

In related 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 transaction, the director directly owned 2,606 shares in the company, valued at approximately $990,280. This represents a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.78% of the company’s stock.

About Talen Energy

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).