Allspring Global Investments Holdings LLC Purchases 121,082 Shares of Talen Energy Corporation (NASDAQ:TLN)

Allspring Global Investments Holdings LLC lifted its stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 1,210.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,082 shares of the utilities provider's stock after purchasing an additional 121,082 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.29% of Talen Energy worth $27,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Talen Energy by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider's stock worth $964,302,000 after purchasing an additional 256,414 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Talen Energy by 37.3% in the 4th quarter. Rhumbline Advisers now owns 5,530 shares of the utilities provider's stock valued at $1,114,000 after buying an additional 1,503 shares in the last quarter. Sei Investments Co. increased its holdings in Talen Energy by 109.4% in the fourth quarter. Sei Investments Co. now owns 59,686 shares of the utilities provider's stock worth $12,024,000 after buying an additional 31,180 shares during the last quarter. Petra Financial Advisors Inc. acquired a new position in Talen Energy in the fourth quarter worth approximately $565,000. Finally, Cinctive Capital Management LP raised its position in Talen Energy by 443.2% during the fourth quarter. Cinctive Capital Management LP now owns 32,871 shares of the utilities provider's stock valued at $6,623,000 after acquiring an additional 26,820 shares in the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Stock Performance

Shares of TLN stock traded up $16.23 during trading hours on Thursday, reaching $292.50. 812,037 shares of the company's stock were exchanged, compared to its average volume of 1,091,703. Talen Energy Corporation has a fifty-two week low of $98.50 and a fifty-two week high of $301.70. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 2.52. The stock has a market capitalization of $13.31 billion, a P/E ratio of 30.37, a P/E/G ratio of 6.63 and a beta of 1.85. The business has a fifty day moving average price of $254.68 and a 200-day moving average price of $226.25.

Talen Energy (NASDAQ:TLN - Get Free Report) last released its earnings results on Thursday, May 8th. The utilities provider reported $0.82 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.35). The company had revenue of $390.00 million for the quarter, compared to analyst estimates of $556.93 million. Talen Energy had a net margin of 28.51% and a return on equity of 11.47%. Analysts predict that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

Insider Activity at Talen Energy

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of Talen Energy stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the sale, the insider directly owned 5,734,970 shares of the company's stock, valued at $1,697,780,518.80. This trade represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 388,530 shares of company stock worth $114,090,933 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on TLN. Susquehanna reissued an "overweight" rating on shares of Talen Energy in a research report on Thursday, June 12th. Morgan Stanley initiated coverage on shares of Talen Energy in a report on Wednesday, March 12th. They issued an "overweight" rating and a $243.00 price objective for the company. Raymond James Financial began coverage on shares of Talen Energy in a research report on Friday, June 13th. They set an "outperform" rating and a $314.00 target price on the stock. UBS Group boosted their price target on Talen Energy from $296.00 to $366.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Finally, Daiwa Capital Markets set a $200.00 price target on Talen Energy in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $255.25.

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.