Algert Global LLC Makes New $6.67 Million Investment in Talen Energy Corporation $TLN

Key Points

• Algert Global initiated a $6.67 million position in Talen Energy during the second quarter, purchasing 17,360 shares. Institutional investors collectively own just 0.38% of the company.
• Analyst sentiment remains generally positive, with Talen holding a consensus “Moderate Buy” rating and an average price target of $466.86, despite several target reductions and one sell rating.
• Talen shares opened at $306.29, near their 52-week low, after the company reported a quarterly loss of $2.00 per share and revenue below expectations; director Gizman I. Abbas also sold nearly half of their holdings for $988,000.

Algert Global LLC bought a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 17,360 shares of the utilities provider's stock, valued at approximately $6,671,000.

Several other hedge funds also recently modified their holdings of the business. Ritholtz Wealth Management grew its holdings in shares of Talen Energy by 3.6% during the 1st quarter. Ritholtz Wealth Management now owns 1,045 shares of the utilities provider's stock worth $334,000 after purchasing an additional 36 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Talen Energy by 5.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 671 shares of the utilities provider's stock valued at $252,000 after purchasing an additional 36 shares in the last quarter. Compound Planning Inc. grew its stake in shares of Talen Energy by 4.7% in the 4th quarter. Compound Planning Inc. now owns 841 shares of the utilities provider's stock valued at $315,000 after purchasing an additional 38 shares during the period. Northwestern Mutual Investment Management Company LLC grew its stake in shares of Talen Energy by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 10,223 shares of the utilities provider's stock valued at $3,832,000 after purchasing an additional 39 shares during the period. Finally, Values First Advisors Inc. raised its holdings in shares of Talen Energy by 4.7% in the 1st quarter. Values First Advisors Inc. now owns 979 shares of the utilities provider's stock worth $312,000 after buying an additional 44 shares in the last quarter. 0.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TLN has been the subject of several recent analyst reports. Wall Street Zen lowered Talen Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Morgan Stanley dropped their target price on shares of Talen Energy from $508.00 to $503.00 and set an "overweight" rating for the company in a research report on Friday, August 21st. Mizuho started coverage on shares of Talen Energy in a research report on Monday. They issued an "outperform" rating and a $405.00 price target on the stock. Jefferies Financial Group dropped 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. Finally, Wells Fargo & Company boosted their price objective on Talen Energy from $482.00 to $501.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned 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, Talen Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $466.86.

Insider Activity

In related news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the sale, the director owned 2,606 shares in the company, valued at approximately $990,280. This trade represents a 49.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.78% of the company's stock.

Talen Energy Trading Down 0.4%

NASDAQ TLN opened at $306.29 on Thursday. The stock has a market capitalization of $14.67 billion, a price-to-earnings ratio of -73.45 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. The stock's 50 day moving average price is $363.49 and its two-hundred day moving average price is $356.84. The company has a debt-to-equity ratio of 5.82, a quick ratio of 0.55 and a current ratio of 0.78.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $832.81 million. As a group, analysts anticipate that Talen Energy Corporation will post 21.99 earnings per share for the current fiscal year.

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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