Amundi Reduces Position in Talen Energy Corporation $TLN

Key Points

• Amundi cut its Talen Energy stake by 92.5% in the second quarter, selling 79,266 shares and retaining 6,454 shares valued at approximately $2.48 million.
• Institutional interest was mixed: California State Teachers Retirement System sharply increased its position, while BlackRock and MFN Partners Management initiated new stakes. Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $459.17 price target.
• Talen shares opened at $312.74, well below their 12-month high of $451.28. The company reported a quarterly loss of $2.00 per share and revenue of $747 million, missing analysts’ estimates on both measures.

Amundi lowered its holdings in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 92.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,454 shares of the utilities provider's stock after selling 79,266 shares during the period. Amundi's holdings in Talen Energy were worth $2,480,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TLN. California State Teachers Retirement System grew its position in shares of Talen Energy by 39,750.4% in the second quarter. California State Teachers Retirement System now owns 18,232,753 shares of the utilities provider's stock valued at $7,006,118,000 after purchasing an additional 18,187,000 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Talen Energy in the second quarter worth $1,673,803,000. MFN Partners Management LP purchased a new stake in shares of Talen Energy in the second quarter worth $1,152,780,000. Fred Alger Management LLC boosted its stake in Talen Energy by 8.4% during the fourth quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider's stock valued at $676,247,000 after buying an additional 140,345 shares during the period. Finally, Reaves W H & Co. Inc. boosted its stake in Talen Energy by 7.9% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider's stock valued at $570,393,000 after buying an additional 111,160 shares during the period. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TLN. Susquehanna set a $449.00 target price on shares of Talen Energy in a research note on Friday, August 7th. The Goldman Sachs Group restated a "buy" rating and set a $509.00 price objective on shares of Talen Energy in a research report on Monday, August 10th. Barclays dropped their price objective on shares of Talen Energy from $411.00 to $408.00 and set an "overweight" rating for the company in a report on Tuesday, July 28th. Zacks Research cut Talen Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 27th. Finally, Mizuho started coverage on Talen Energy in a research report on Monday, August 24th. They set an "outperform" rating and a $405.00 price objective on the stock. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $459.17.

Talen Energy Stock Performance

NASDAQ TLN opened at $312.74 on Monday. The firm has a market cap of $14.98 billion, a price-to-earnings ratio of -75.00 and a beta of 1.84. Talen Energy Corporation has a 12-month low of $288.58 and a 12-month high of $451.28. The company has a 50-day simple moving average of $341.05 and a two-hundred day simple moving average of $351.70. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82.

Talen Energy (NASDAQ:TLN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing the consensus estimate of $3.21 by ($5.21). Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. The company had revenue of $747.00 million during the quarter, compared to the consensus estimate of $832.81 million. On average, equities analysts forecast that Talen Energy Corporation will post 21.99 EPS for the current year.

Talen Energy Company Profile

Talen Energy Corporation is an independent power producer that owns and operates electricity-generating facilities in the United States. Its portfolio includes nuclear, natural gas, and other generation assets, which supply electricity to wholesale markets and customers across several regions.

The company's principal business activities include generating and selling electricity, capacity, and ancillary services. Talen's nuclear operations include the Susquehanna Steam Electric Station in Pennsylvania, while its broader portfolio serves markets primarily within the Eastern and Southern United States, including the PJM Interconnection.

Talen Energy was formed in 2015 through the combination of RRI Energy and power-generation assets owned by affiliates of Riverstone Holdings.

Want to see what other hedge funds are holding TLN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Talen Energy Corporation (NASDAQ:TLN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.