Bank of Nova Scotia Invests $48.78 Million in Talen Energy Corporation $TLN

Key Points

• Bank of Nova Scotia acquired 126,935 Talen Energy shares worth approximately $48.78 million during the second quarter, representing about 0.26% of the company.
• Analysts maintain a “Moderate Buy” consensus on Talen Energy, with a $477.17 average price target, despite some firms recently lowering their targets.
• Talen Energy reported a quarterly loss of $2.00 per share and revenue of $747 million, missing estimates of $3.21 per share and $832.81 million, respectively.

Bank of Nova Scotia acquired a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 126,935 shares of the utilities provider's stock, valued at approximately $48,784,000. Bank of Nova Scotia owned approximately 0.26% of Talen Energy at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in TLN. Ritholtz Wealth Management boosted its position in Talen Energy by 3.6% during the first quarter. Ritholtz Wealth Management now owns 1,045 shares of the utilities provider's stock worth $334,000 after purchasing an additional 36 shares during the period. Daiwa Securities Group Inc. raised its holdings in Talen Energy by 5.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 671 shares of the utilities provider's stock worth $252,000 after acquiring an additional 36 shares during the period. Compound Planning Inc. lifted its position in Talen Energy by 4.7% during the 4th quarter. Compound Planning Inc. now owns 841 shares of the utilities provider's stock worth $315,000 after acquiring an additional 38 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in Talen Energy by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 10,223 shares of the utilities provider's stock worth $3,832,000 after acquiring an additional 39 shares during the last quarter. Finally, Values First Advisors Inc. boosted its holdings in Talen Energy by 4.7% during the first quarter. Values First Advisors Inc. now owns 979 shares of the utilities provider's stock valued at $312,000 after acquiring an additional 44 shares during the period. Institutional investors own 0.38% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on TLN. Barclays dropped their price objective on Talen Energy from $411.00 to $408.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 28th. Raymond James Financial reaffirmed an "outperform" rating and issued a $457.00 target price on shares of Talen Energy in a report on Monday, April 27th. BNP Paribas Exane reaffirmed an "outperform" rating and issued a $560.00 price target on shares of Talen Energy in a research report on Wednesday. Jefferies Financial Group cut their price target on Talen Energy from $453.00 to $422.00 and set a "hold" rating for the company in a report on Monday, July 20th. Finally, Morgan Stanley reduced their target price on shares of Talen Energy from $508.00 to $503.00 and set an "overweight" rating for the company in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $477.17.

Talen Energy Stock Performance

TLN stock opened at $314.46 on Monday. The company has a market cap of $15.07 billion, a P/E ratio of -75.41 and a beta of 1.90. 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 Corporation has a twelve month low of $301.45 and a twelve month high of $451.28. The business has a fifty day moving average of $369.15 and a 200-day moving average of $357.29.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing analysts' consensus estimates of $3.21 by ($5.21). Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%.The business had revenue of $747.00 million for the quarter, compared to the consensus estimate of $832.81 million. As a group, equities research analysts expect that Talen Energy Corporation will post 25.07 EPS for the current year.

Insiders Place Their Bets

In related news, Director Gizman I. Abbas sold 2,600 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the transaction, the director owned 2,606 shares in the company, valued at approximately $990,280. The trade was a 49.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.78% of the stock is owned by insiders.

Talen Energy Company Profile

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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