NewEdge Wealth LLC Takes Position in Talen Energy Corporation $TLN

NewEdge Wealth LLC purchased a new position in Talen Energy Corporation (NASDAQ:TLN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,018 shares of the utilities provider’s stock, valued at approximately $1,544,000.

Other hedge funds have also recently made changes to their positions in the company. Advisory Services Network LLC bought a new position in Talen Energy in the third quarter worth about $35,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Talen Energy by 1,500.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock valued at $36,000 after buying an additional 90 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Talen Energy in the 2nd quarter worth approximately $38,000. Bessemer Group Inc. grew its position in shares of Talen Energy by 404.0% in the 1st quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock worth $41,000 after buying an additional 101 shares during the last quarter. Finally, Rothschild Investment LLC raised its stake in shares of Talen Energy by 235.0% during the 4th quarter. Rothschild Investment LLC now owns 134 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 94 shares in the last quarter. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the sale, the director directly owned 2,606 shares of the company’s stock, valued at $990,280. The trade was a 49.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.78% of the company’s stock.

Talen Energy Stock Performance

Shares of Talen Energy stock opened at $314.46 on Friday. The company has a 50 day moving average price of $369.15 and a 200 day moving average price of $357.17. The firm has a market capitalization of $15.07 billion, a P/E ratio of -75.41 and a beta of 1.90. 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 52 week low of $301.45 and a 52 week high of $451.28.

Talen Energy (NASDAQ:TLN) last released its earnings results 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 company had revenue of $747.00 million for the quarter, compared to analysts’ expectations of $832.81 million. Sell-side analysts expect that Talen Energy Corporation will post 25.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TLN shares. Jefferies Financial Group decreased their target price on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Raymond James Financial reaffirmed an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a research report on Monday, April 27th. Wells Fargo & Company increased their price objective on Talen Energy from $482.00 to $501.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. The Goldman Sachs Group reissued a “buy” rating and issued a $509.00 price objective on shares of Talen Energy in a research report on Monday, August 10th. Finally, Weiss Ratings downgraded Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $477.17.

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).