11,500 Shares in Talen Energy Corporation (NASDAQ:TLN) Acquired by Zweig DiMenna Associates LLC

Key Points

• Zweig DiMenna Associates LLC acquired 11,500 shares of Talen Energy Corporation (NASDAQ: TLN) in the first quarter, valued at approximately $2.3 million.
• Several institutional investors, including Fred Alger Management LLC and Pictet Asset Management, have significantly increased their stakes in Talen Energy, indicating growing interest in the company.
• Analyst ratings for Talen Energy show a split sentiment, with one analyst rating it a "sell" and fourteen assigning a "buy" rating, resulting in an average rating of "Moderate Buy" with a consensus target price of $289.92.

Zweig DiMenna Associates LLC bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,500 shares of the utilities provider's stock, valued at approximately $2,296,000.

Other large investors have also recently added to or reduced their stakes in the company. Wedbush Securities Inc. lifted its position in Talen Energy by 4.4% in the 1st quarter. Wedbush Securities Inc. now owns 1,316 shares of the utilities provider's stock worth $263,000 after buying an additional 55 shares in the last quarter. IFP Advisors Inc lifted its position in Talen Energy by 42.4% in the 1st quarter. IFP Advisors Inc now owns 188 shares of the utilities provider's stock worth $38,000 after buying an additional 56 shares in the last quarter. Signaturefd LLC lifted its position in Talen Energy by 310.0% in the 1st quarter. Signaturefd LLC now owns 123 shares of the utilities provider's stock worth $25,000 after buying an additional 93 shares in the last quarter. LRI Investments LLC lifted its position in Talen Energy by 179.0% in the 1st quarter. LRI Investments LLC now owns 173 shares of the utilities provider's stock worth $35,000 after buying an additional 111 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in Talen Energy in the 1st quarter worth approximately $35,000. 0.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Talen Energy

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the business's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $296.04, for a total value of $52,695,120.00. Following the completion of the transaction, the insider directly owned 5,734,970 shares of the company's stock, valued at approximately $1,697,780,518.80. The trade was a 3.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 388,530 shares of company stock valued at $114,090,933 over the last ninety days. Insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TLN shares. Raymond James Financial assumed coverage on shares of Talen Energy in a report on Friday, June 13th. They set an "outperform" rating and a $314.00 price target on the stock. Susquehanna restated an "overweight" rating on shares of Talen Energy in a report on Thursday, June 12th. Oppenheimer set a $315.00 price objective on shares of Talen Energy and gave the stock an "outperform" rating in a report on Friday, July 11th. Jefferies Financial Group boosted their price objective on shares of Talen Energy from $326.00 to $380.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Barclays boosted their price objective on shares of Talen Energy from $269.00 to $359.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $292.58.

Talen Energy Price Performance

NASDAQ:TLN traded up $2.66 on Tuesday, reaching $361.43. The stock had a trading volume of 361,646 shares, compared to its average volume of 1,187,715. The company has a market capitalization of $16.45 billion, a P/E ratio of 37.53 and a beta of 1.85. Talen Energy Corporation has a 1-year low of $98.50 and a 1-year high of $365.40. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 2.52. The stock has a fifty day moving average price of $278.43 and a 200-day moving average price of $237.50.

Talen Energy (NASDAQ:TLN - Get Free Report) last announced its earnings results on Thursday, May 8th. The utilities provider reported $0.82 earnings per share for the quarter, missing analysts' consensus estimates of $1.17 by ($0.35). Talen Energy had a return on equity of 11.47% and a net margin of 28.51%. The company had revenue of $390.00 million during the quarter, compared to the consensus estimate of $556.93 million. Research analysts forecast that Talen Energy Corporation will post 15.94 EPS for the current year.

Talen Energy Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.