4,018 Shares in Talen Energy Corporation $TLN Purchased by NewEdge Wealth LLC

Key Points

• NewEdge Wealth initiated a Talen Energy position of 4,018 shares valued at approximately $1.54 million, while institutional investors collectively own just 0.38% of the company.
• Talen Energy’s latest quarterly results missed expectations: it reported a $2.00 loss per share versus consensus earnings of $3.21, while revenue of $747 million fell short of the $832.81 million forecast.
• Shares opened at $314.46, near the 52-week low, after declining 0.8%. Analysts remain moderately bullish, with an average price target of $477.17, though ratings range from “sell” to “strong buy.”

NewEdge Wealth LLC acquired a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,018 shares of the utilities provider's stock, valued at approximately $1,544,000.

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

Talen Energy Trading Down 0.8%

TLN opened at $314.46 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82. The stock's fifty day moving average is $369.15 and its two-hundred day moving average is $357.17. The company has a market capitalization of $15.07 billion, a P/E ratio of -75.41 and a beta of 1.90. Talen Energy Corporation has a 52 week low of $301.45 and a 52 week high of $451.28.

Talen Energy (NASDAQ:TLN - Get Free Report) last issued 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 firm had revenue of $747.00 million during the quarter, compared to analysts' expectations of $832.81 million. Analysts forecast that Talen Energy Corporation will post 25.07 earnings per share for the current year.

Insider Buying and Selling 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 completion of the sale, the director directly owned 2,606 shares of the company's stock, valued at $990,280. This represents a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Weiss Ratings downgraded Talen Energy from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday. BNP Paribas Exane reiterated an "outperform" rating and set a $560.00 target price on shares of Talen Energy in a research report on Wednesday. Barclays cut their price target on shares of Talen Energy from $411.00 to $408.00 and set an "overweight" rating on the stock in a report on Tuesday, July 28th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $509.00 price target on shares of Talen Energy in a research note on Monday, August 10th. Finally, Jefferies Financial Group decreased their price objective on shares of Talen Energy from $453.00 to $422.00 and set a "hold" rating for the company in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $477.17.

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).

Want to see what other hedge funds are holding TLN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Talen Energy Corporation (NASDAQ:TLN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source