Avantax Advisory Services Inc. Takes Position in Talen Energy Corporation (NASDAQ:TLN)

Key Points

• Avantax Advisory Services Inc. purchased 1,550 shares of Talen Energy Corporation (NASDAQ:TLN) valued at approximately $309,000 during the 1st quarter.
• Several hedge funds, including Lone Pine Capital LLC and Fred Alger Management LLC, significantly increased their stakes in Talen Energy, indicating strong institutional interest in the company.
• Talen Energy recently reported earnings of $1.50 per share for the quarter, greatly exceeding analysts' expectations of ($0.56), reflecting a robust financial performance.

Avantax Advisory Services Inc. purchased a new stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,550 shares of the utilities provider's stock, valued at approximately $309,000.

Several other hedge funds also recently modified their holdings of the company. Lone Pine Capital LLC increased its position in shares of Talen Energy by 27.2% during the 4th quarter. Lone Pine Capital LLC now owns 1,089,380 shares of the utilities provider's stock valued at $219,477,000 after purchasing an additional 233,165 shares during the period. Fred Alger Management LLC boosted its stake in shares of Talen Energy by 152.9% during the 4th quarter. Fred Alger Management LLC now owns 954,747 shares of the utilities provider's stock worth $192,353,000 after acquiring an additional 577,257 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Talen Energy by 32.8% during the 4th quarter. Invesco Ltd. now owns 652,478 shares of the utilities provider's stock worth $131,455,000 after acquiring an additional 161,269 shares in the last quarter. Carronade Capital Management LP boosted its stake in shares of Talen Energy by 12.0% during the 4th quarter. Carronade Capital Management LP now owns 447,886 shares of the utilities provider's stock worth $90,236,000 after acquiring an additional 47,886 shares in the last quarter. Finally, Encompass Capital Advisors LLC bought a new stake in shares of Talen Energy during the 4th quarter worth $48,333,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TLN has been the subject of several recent analyst reports. UBS Group set a $431.00 target price on Talen Energy and gave the stock a "buy" rating in a research report on Friday, July 25th. Raymond James Financial began coverage on Talen Energy in a report on Friday, June 13th. They set an "outperform" rating and a $314.00 target price on the stock. Barclays lifted their price objective on Talen Energy from $269.00 to $359.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Jefferies Financial Group lifted their price objective on Talen Energy from $326.00 to $380.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Finally, Wall Street Zen lowered Talen Energy from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. One equities research analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $292.58.

Insiders Place Their Bets

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of Talen Energy stock in a transaction that occurred on 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 approximately $1,697,780,518.80. The trade was a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 388,530 shares of company stock worth $114,090,933 over the last 90 days. 0.18% of the stock is currently owned by insiders.

Talen Energy Trading Down 0.8%

Shares of TLN opened at $375.58 on Friday. 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's 50-day moving average price is $300.10 and its 200 day moving average price is $245.64. The firm has a market capitalization of $17.09 billion, a price-to-earnings ratio of 39.00, a P/E/G ratio of 3.15 and a beta of 1.90. Talen Energy Corporation has a 12-month low of $113.41 and a 12-month high of $394.07.

Talen Energy (NASDAQ:TLN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of ($0.56) by $2.06. Talen Energy had a return on equity of 11.47% and a net margin of 28.51%. As a group, research analysts predict that Talen Energy Corporation will post 15.94 earnings per share for the current 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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