Amundi Has $27.36 Million Stake in Talen Energy Corporation $TLN

Key Points

• Amundi increased its Talen Energy stake by 23.7% in the first quarter, purchasing 16,400 additional shares to hold 85,720 shares worth approximately $27.36 million, or 0.19% of the company.
• Analysts remain broadly positive, with one Strong Buy, nine Buy, and three Hold ratings. Talen Energy has a consensus rating of “Moderate Buy” and an average price target of $476.45.
• Talen shares opened at $344.49 after rising 3.1%; the stock has traded between $301.45 and $451.28 over the past year. Director Gizman I. Abbas separately sold 2,600 shares for $988,000.

Amundi boosted its position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 23.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 85,720 shares of the utilities provider's stock after purchasing an additional 16,400 shares during the period. Amundi owned 0.19% of Talen Energy worth $27,364,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new position in Talen Energy during the first quarter valued at $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Talen Energy by 11.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider's stock worth $1,454,000 after acquiring an additional 761 shares during the period. NewEdge Advisors LLC grew its stake in Talen Energy by 17,400.0% during the 1st quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider's stock valued at $175,000 after acquiring an additional 870 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Talen Energy by 15.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider's stock valued at $9,794,000 after acquiring an additional 6,498 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Talen Energy in the 2nd quarter valued at about $544,000. 0.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TLN has been the subject of a number of research analyst reports. Morgan Stanley reissued an "overweight" rating and issued a $508.00 price target on shares of Talen Energy in a research report on Wednesday, June 24th. The Goldman Sachs Group initiated coverage on shares of Talen Energy in a research note on Thursday, June 18th. They issued a "buy" rating and a $499.00 price objective on the stock. Scotiabank increased their target price on shares of Talen Energy from $463.00 to $470.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 15th. Raymond James Financial reissued an "outperform" rating and set a $457.00 target price on shares of Talen Energy in a research note on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Talen Energy from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Talen Energy has an average rating of "Moderate Buy" and a consensus target price of $476.45.

Talen Energy Trading Up 3.1%

Shares of NASDAQ:TLN opened at $344.49 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. The stock has a market capitalization of $16.50 billion, a PE ratio of -514.16 and a beta of 1.90. Talen Energy Corporation has a 1 year low of $301.45 and a 1 year high of $451.28. The firm has a fifty day moving average price of $377.47 and a 200 day moving average price of $359.89.

Insider Buying and Selling at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the sale, the director owned 2,606 shares in the company, valued at approximately $990,280. This represents a 49.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.78% of the stock is owned by corporate 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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