XTX Topco Ltd Purchases Shares of 14,539 Talen Energy Corporation (NASDAQ:TLN)

Key Points

• XTX Topco Ltd purchased 14,539 shares of Talen Energy Corporation, valued at approximately $2.9 million, during the first quarter.
• Major shareholder Rubric Capital Management sold 178,000 shares at an average price of $296.04, totaling over $52.6 million, representing a 3.01% decrease in ownership.
• Talen Energy reported earnings per share of $0.82 for the last quarter, missing the estimated $1.17, with revenues significantly below expectations at $390 million against a forecast of $556 million.

XTX Topco Ltd acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 14,539 shares of the utilities provider's stock, valued at approximately $2,903,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. N.E.W. Advisory Services LLC acquired a new stake in shares of Talen Energy during the first quarter worth $35,000. TCW Group Inc. acquired a new stake in Talen Energy during the 1st quarter worth about $9,266,000. LPL Financial LLC grew its stake in Talen Energy by 55.7% during the 1st quarter. LPL Financial LLC now owns 36,568 shares of the utilities provider's stock valued at $7,302,000 after purchasing an additional 13,078 shares during the last quarter. RWC Asset Management LLP purchased a new position in shares of Talen Energy in the first quarter worth about $9,845,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Talen Energy by 3.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,335 shares of the utilities provider's stock worth $1,864,000 after purchasing an additional 291 shares during the period. Hedge funds and other institutional investors own 0.38% of the company's stock.

Insider Buying and Selling at Talen Energy

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the sale, the insider directly owned 5,734,970 shares in the company, valued at approximately $1,697,780,518.80. This trade represents a 3.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 388,530 shares of company stock worth $114,090,933. Corporate insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TLN shares. Jefferies Financial Group lifted their price objective on shares of Talen Energy from $326.00 to $380.00 and gave the company a "buy" rating in a report on Friday, July 18th. Morgan Stanley increased their target price on Talen Energy from $300.00 to $330.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Wall Street Zen upgraded shares of Talen Energy from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Susquehanna reaffirmed an "overweight" rating on shares of Talen Energy in a research note on Thursday, June 12th. Finally, Oppenheimer set a $315.00 target price on Talen Energy and gave the company an "outperform" rating in a report on Friday, July 11th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Talen Energy presently has an average rating of "Moderate Buy" and a consensus target price of $292.58.

Talen Energy Stock Performance

NASDAQ TLN traded up $0.44 during trading hours on Friday, hitting $378.01. The company had a trading volume of 1,548,277 shares, compared to its average volume of 1,190,282. The business has a 50 day moving average of $286.37 and a 200-day moving average of $240.43. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.20 and a current ratio of 1.62. Talen Energy Corporation has a 1-year low of $98.50 and a 1-year high of $384.92. The company has a market cap of $17.20 billion, a PE ratio of 39.25, a price-to-earnings-growth ratio of 3.11 and a beta of 1.85.

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 (EPS) 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 business had revenue of $390.00 million for the quarter, compared to analysts' expectations of $556.93 million. As a group, equities research analysts expect that Talen Energy Corporation will post 15.94 EPS for the current year.

Talen Energy Company 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.