California State Teachers Retirement System Boosts Stake in Talen Energy Corporation $TLN

Key Points

• California State Teachers Retirement System increased its Talen Energy stake by 24% in the first quarter, holding 45,753 shares valued at approximately $14.6 million. Institutional investors collectively own about 0.38% of the company.
• Analysts remain broadly bullish, with Talen Energy receiving a consensus “Moderate Buy” rating and an average price target of $476.45. Recent targets range from $408 to $482.
• Talen Energy shares opened at $334.10, below their 50-day and 200-day moving averages, and have traded between $301.45 and $451.28 over the past year. Director Gizman I. Abbas separately sold 2,600 shares for $988,000.

California State Teachers Retirement System boosted its position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 24.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,753 shares of the utilities provider's stock after buying an additional 8,859 shares during the period. California State Teachers Retirement System owned approximately 0.10% of Talen Energy worth $14,606,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Talen Energy during the 4th quarter worth approximately $27,000. Advisory Services Network LLC purchased a new position in shares of Talen Energy in the third quarter valued at $35,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Talen Energy by 1,500.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 90 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Talen Energy in the fourth quarter worth $39,000. Finally, Bessemer Group Inc. increased its position in Talen Energy by 404.0% in the first quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider's stock worth $41,000 after purchasing an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 0.38% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TLN. Zacks Research raised shares of Talen Energy from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. 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 research note on Tuesday, July 28th. Wells Fargo & Company boosted their target price on shares of Talen Energy from $477.00 to $482.00 and gave the stock an "overweight" rating in a report on Monday, July 27th. Scotiabank upped their target price on shares of Talen Energy from $463.00 to $470.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 15th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $457.00 price target on shares of Talen Energy in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Talen Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $476.45.

Insider Buying and Selling at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the business's stock in a transaction 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 sale, the director directly owned 2,606 shares of the company's stock, 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. Company insiders own 0.78% of the company's stock.

Talen Energy Stock Performance

Shares of Talen Energy stock opened at $334.10 on Monday. The stock's fifty day moving average is $378.03 and its two-hundred day moving average is $360.12. The company has a market capitalization of $16.00 billion, a PE ratio of -498.65 and a beta of 1.90. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32. Talen Energy Corporation has a 52 week low of $301.45 and a 52 week high of $451.28.

Talen Energy 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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