4,355,914 Shares in Talen Energy Corporation $TLN Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 4.36 million Talen Energy shares worth approximately $1.67 billion, giving it a 9.09% stake in the power producer.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $477.58, despite some target cuts and one recent downgrade to “Sell.”
• Talen Energy’s latest quarter fell short of expectations, reporting a $2.00 loss per share versus the projected $3.21 profit and revenue of $747 million versus an $832.81 million estimate.

BlackRock Inc. bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,355,914 shares of the utilities provider's stock, valued at approximately $1,673,803,000. BlackRock Inc. owned about 9.09% of Talen Energy at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Advisory Services Network LLC bought a new stake in shares of Talen Energy in the 3rd quarter valued at about $35,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Talen Energy by 1,500.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider's stock worth $36,000 after acquiring an additional 90 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Talen Energy in the second quarter worth approximately $38,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Talen Energy in the fourth quarter worth approximately $39,000. Finally, Bessemer Group Inc. boosted its holdings in Talen Energy by 404.0% in the first quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider's stock valued at $41,000 after acquiring an additional 101 shares during the last quarter. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TLN has been the subject of several analyst reports. Raymond James Financial restated an "outperform" rating and set a $457.00 price target on shares of Talen Energy in a report on Monday, April 27th. Zacks Research upgraded shares of Talen Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 29th. Barclays cut their price target on Talen Energy from $411.00 to $408.00 and set an "overweight" rating on the stock in a report on Tuesday, July 28th. Wall Street Zen downgraded shares of Talen Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $508.00 target price on shares of Talen Energy in a research report on Wednesday, June 24th. One 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $477.58.

Talen Energy Price Performance

Shares of NASDAQ TLN opened at $316.99 on Friday. Talen Energy Corporation has a twelve month low of $301.45 and a twelve month high of $451.28. The company has a market capitalization of $15.19 billion, a PE ratio of -76.02 and a beta of 1.90. The stock's 50 day moving average price is $370.07 and its 200-day moving average price is $357.47. 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 (NASDAQ:TLN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) EPS for the quarter, missing the consensus estimate of $3.21 by ($5.21). The company had revenue of $747.00 million during the quarter, compared to the consensus estimate of $832.81 million. Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%. On average, equities analysts anticipate that Talen Energy Corporation will post 25.07 EPS for the current year.

Insider Buying and Selling

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the transaction, the director owned 2,606 shares in the company, valued at $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.78% of the stock is currently owned by company insiders.

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).

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