Canoe Financial LP Buys 71,000 Shares of Talen Energy Corporation $TLN

Canoe Financial LP bought a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 71,000 shares of the utilities provider's stock, valued at approximately $22,747,000. Canoe Financial LP owned about 0.15% of Talen Energy as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TLN. BlackRock Inc. acquired a new stake in Talen Energy during the second quarter worth about $1,673,803,000. MFN Partners Management LP acquired a new position in Talen Energy in the 2nd quarter valued at about $1,152,780,000. Carronade Capital Management LP boosted its holdings in Talen Energy by 11.6% in the 1st quarter. Carronade Capital Management LP now owns 644,484 shares of the utilities provider's stock valued at $205,739,000 after purchasing an additional 67,245 shares during the last quarter. Two Seas Capital LP acquired a new position in Talen Energy in the 2nd quarter valued at about $194,900,000. Finally, William Blair Investment Management LLC purchased a new stake in shares of Talen Energy in the 2nd quarter valued at approximately $191,231,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Talen Energy Stock Performance

NASDAQ:TLN opened at $359.49 on Thursday. The company has a fifty day simple moving average of $323.93 and a two-hundred day simple moving average of $350.89. The company has a market cap of $17.22 billion, a price-to-earnings ratio of -86.21 and a beta of 1.82. 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 52 week low of $279.77 and a 52 week high of $449.84.

Talen Energy (NASDAQ:TLN - Get Free Report) last released its earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 $959.00 million during the quarter, compared to analysts' expectations of $832.81 million. As a group, equities analysts anticipate that Talen Energy Corporation will post 21.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TLN has been the subject of a number of recent analyst reports. Jefferies Financial Group cut their price target on shares of Talen Energy from $453.00 to $422.00 and set a "hold" rating for the company in a report on Monday, July 20th. Morgan Stanley decreased their price objective on Talen Energy from $514.00 to $504.00 and set an "overweight" rating on the stock in a report on Wednesday. Zacks Research cut Talen Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 27th. New Street Research set a $405.00 price objective on Talen Energy in a research report on Monday, August 24th. Finally, BNP Paribas Exane reissued an "outperform" rating and set a $560.00 target price on shares of Talen Energy in a research note on Wednesday, August 19th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $462.31.

Talen Energy Company Profile

Talen Energy Corporation NASDAQ: TLN is an independent power producer that owns and operates power generation and energy infrastructure assets in the United States. The company sells electricity, capacity and ancillary services into wholesale power markets, serving utilities, commercial and industrial customers, and other energy market participants.

Talen's generation portfolio includes nuclear, natural gas and other power assets. Its Susquehanna nuclear power station in Pennsylvania is a central part of the company's operations, and Talen has also pursued energy infrastructure projects designed to support large-scale electricity users, including data centers and other technology-related facilities.

The company was formed in 2015 through the separation of competitive power generation assets from PPL Corporation.

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