Catalyst Capital Advisors LLC Takes Position in Talen Energy Corporation $TLN

Key Points

• Catalyst Capital Advisors initiated a new position in Talen Energy during the first quarter, buying 3,085 shares valued at about $985,000.
• Institutional interest in Talen Energy remains strong, with major firms like State Street, Norges Bank, and Invesco adding to or taking positions in the stock.
• Wall Street sentiment is generally positive: Talen Energy has a Moderate Buy consensus with an average price target of $475.08, though Jefferies recently downgraded the shares to Hold.

Catalyst Capital Advisors LLC purchased a new stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,085 shares of the utilities provider's stock, valued at approximately $985,000.

Several other institutional investors have also recently modified their holdings of the company. State Street Corp increased its holdings in shares of Talen Energy by 88.2% in the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider's stock worth $569,455,000 after buying an additional 627,467 shares during the period. Norges Bank bought a new position in Talen Energy during the 4th quarter worth approximately $225,930,000. Invesco Ltd. increased its stake in Talen Energy by 77.5% in the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider's stock worth $452,189,000 after purchasing an additional 464,014 shares during the period. Sachem Head Capital Management LP lifted its position in Talen Energy by 72.4% in the fourth quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider's stock valued at $374,840,000 after purchasing an additional 420,000 shares during the last quarter. Finally, Deltroit Asset Management UK LLP bought a new stake in Talen Energy in the fourth quarter valued at approximately $103,081,000. 0.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on TLN. Morgan Stanley reaffirmed an "overweight" rating and issued a $508.00 target price on shares of Talen Energy in a research note on Wednesday, June 24th. Wells Fargo & Company increased their price target on shares of Talen Energy from $465.00 to $477.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Jefferies Financial Group lowered shares of Talen Energy from a "buy" rating to a "hold" rating and set a $453.00 price target on the stock. in a report on Tuesday, June 23rd. The Goldman Sachs Group started coverage on shares of Talen Energy in a research report on Thursday, June 18th. They issued a "buy" rating and a $499.00 price objective on the stock. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $457.00 price objective on shares of Talen Energy in a research note on Monday, April 27th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $475.08.

Insiders Place Their Bets

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.78% of the company's stock.

Talen Energy Price Performance

Shares of NASDAQ:TLN opened at $372.37 on Friday. Talen Energy Corporation has a 1-year low of $300.00 and a 1-year high of $451.28. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05. The business has a fifty day moving average price of $378.30 and a 200-day moving average price of $362.26. The company has a market capitalization of $17.84 billion, a PE ratio of -555.77 and a beta of 1.82.

About Talen Energy

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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