813 Shares in Talen Energy Corporation $TLN Purchased by Venturi Wealth Management LLC

Key Points

• Venturi Wealth Management LLC acquired 813 shares of Talen Energy Corporation, valued at approximately $236,000, during the 2nd quarter, marking a new investment position in the company.
• Multiple hedge funds have increased their stakes in Talen Energy recently, with noted acquisitions including a new position worth $116.8 million by Third Point LLC and a significant stake increase by Fred Alger Management LLC and Ameriprise Financial.
• Talen Energy's stock has been given a consensus rating of "Moderate Buy" by analysts, with a notable increase in price targets by firms like Melius Research and Jefferies Financial Group.

Venturi Wealth Management LLC bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 813 shares of the utilities provider's stock, valued at approximately $236,000.

Several other hedge funds have also recently bought and sold shares of TLN. Third Point LLC acquired a new position in Talen Energy during the 1st quarter worth about $116,807,000. Fred Alger Management LLC lifted its stake in Talen Energy by 56.3% during the 1st quarter. Fred Alger Management LLC now owns 1,492,145 shares of the utilities provider's stock worth $297,937,000 after acquiring an additional 537,398 shares in the last quarter. PointState Capital LP acquired a new position in Talen Energy during the 1st quarter worth about $75,148,000. Assenagon Asset Management S.A. acquired a new position in Talen Energy during the 2nd quarter worth about $91,239,000. Finally, Ameriprise Financial Inc. lifted its stake in Talen Energy by 6,621.1% during the 1st quarter. Ameriprise Financial Inc. now owns 303,661 shares of the utilities provider's stock worth $60,638,000 after acquiring an additional 299,143 shares in the last quarter. Institutional investors and hedge funds own 0.38% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Melius Research increased their price target on Talen Energy from $427.00 to $576.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Jefferies Financial Group increased their price target on Talen Energy from $326.00 to $380.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Scotiabank assumed coverage on Talen Energy in a research report on Monday, September 22nd. They issued a "sector perform" rating and a $418.00 price target on the stock. Evercore ISI increased their price target on Talen Energy from $410.00 to $450.00 and gave the company an "outperform" rating in a research report on Tuesday, September 9th. Finally, UBS Group set a $431.00 price target on Talen Energy and gave the company a "buy" rating in a research report on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $376.85.

Talen Energy Trading Down 7.1%

TLN opened at $412.83 on Friday. Talen Energy Corporation has a one year low of $148.02 and a one year high of $451.28. The company has a market cap of $18.86 billion, a P/E ratio of 116.95, a PEG ratio of 2.39 and a beta of 1.88. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.34 and a current ratio of 1.84. The business's 50-day simple moving average is $396.79 and its 200-day simple moving average is $302.77.

Talen Energy (NASDAQ:TLN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.50 EPS for the quarter, beating analysts' consensus estimates of ($1.13) by $2.63. Talen Energy had a return on equity of 17.81% and a net margin of 8.75%.The business had revenue of $630.00 million for the quarter, compared to the consensus estimate of $481.48 million. As a group, equities research analysts expect that Talen Energy Corporation will post 15.94 EPS for the current fiscal 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.

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