Allspring Global Investments Holdings LLC Buys 58,890 Shares of Talen Energy Corporation $TLN

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Talen Energy Corporation by 44.9%, purchasing an additional 58,890 shares, bringing its total ownership to 189,972 shares valued at approximately $53.19 million.
• Several analysts upgraded their ratings for Talen Energy, with Melius Research raising the price target from $427 to $576, indicating strong positive sentiment towards the stock.
• Talen Energy reported earnings of $1.50 per share for the previous quarter, significantly surpassing analyst expectations and achieving revenues of $630 million.

Allspring Global Investments Holdings LLC lifted its stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 44.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 189,972 shares of the utilities provider's stock after purchasing an additional 58,890 shares during the period. Allspring Global Investments Holdings LLC owned 0.42% of Talen Energy worth $53,190,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TLN. Wedbush Securities Inc. raised its stake in Talen Energy by 4.4% during the 1st quarter. Wedbush Securities Inc. now owns 1,316 shares of the utilities provider's stock worth $263,000 after buying an additional 55 shares during the period. IFP Advisors Inc raised its stake in Talen Energy by 42.4% during the 1st quarter. IFP Advisors Inc now owns 188 shares of the utilities provider's stock worth $38,000 after buying an additional 56 shares during the period. Knights of Columbus Asset Advisors LLC raised its stake in Talen Energy by 2.7% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 3,394 shares of the utilities provider's stock worth $678,000 after buying an additional 88 shares during the period. Signaturefd LLC raised its stake in Talen Energy by 310.0% during the 1st quarter. Signaturefd LLC now owns 123 shares of the utilities provider's stock worth $25,000 after buying an additional 93 shares during the period. Finally, LRI Investments LLC raised its stake in Talen Energy by 179.0% during the 1st quarter. LRI Investments LLC now owns 173 shares of the utilities provider's stock worth $35,000 after buying an additional 111 shares during the period. 0.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Melius Research raised their price objective on Talen Energy from $427.00 to $576.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Melius assumed coverage on Talen Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $427.00 price objective on the stock. Scotiabank assumed coverage on Talen Energy in a research note on Monday, September 22nd. They set a "sector perform" rating and a $418.00 price objective on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Talen Energy in a research note on Wednesday, October 8th. Finally, Morgan Stanley lifted their price target on Talen Energy from $330.00 to $430.00 and gave the company an "overweight" rating in a research note on Wednesday, September 10th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $376.85.

Talen Energy Price Performance

NASDAQ:TLN opened at $417.75 on Wednesday. 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 stock's 50-day simple moving average is $398.37 and its 200 day simple moving average is $306.61. The company has a market cap of $19.09 billion, a P/E ratio of 118.34, a P/E/G ratio of 2.20 and a beta of 1.88. Talen Energy Corporation has a 52-week low of $158.08 and a 52-week high of $451.28.

Talen Energy (NASDAQ:TLN - Get Free Report) last released its earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.13) by $2.63. The business had revenue of $630.00 million for the quarter, compared to the consensus estimate of $481.48 million. Talen Energy had a return on equity of 17.81% and a net margin of 8.75%. As a group, sell-side analysts forecast 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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