Colonial River Investments LLC Acquires Shares of 3,879 Talen Energy Corporation (NASDAQ:TLN)

Colonial River Investments LLC bought a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,879 shares of the utilities provider's stock, valued at approximately $775,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Rhumbline Advisers boosted its position in Talen Energy by 37.3% in the 4th quarter. Rhumbline Advisers now owns 5,530 shares of the utilities provider's stock valued at $1,114,000 after buying an additional 1,503 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Talen Energy during the 4th quarter valued at about $337,000. Truist Financial Corp acquired a new stake in Talen Energy in the 4th quarter valued at approximately $577,000. Bank of New York Mellon Corp boosted its holdings in shares of Talen Energy by 457.9% in the fourth quarter. Bank of New York Mellon Corp now owns 97,208 shares of the utilities provider's stock valued at $19,584,000 after acquiring an additional 79,783 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in shares of Talen Energy during the 4th quarter valued at $53,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Analyst Ratings Changes

TLN has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Talen Energy from $295.00 to $265.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Daiwa Capital Markets set a $200.00 target price on Talen Energy in a report on Wednesday, March 5th. Morgan Stanley initiated coverage on Talen Energy in a research report on Wednesday, March 12th. They issued an "overweight" rating and a $243.00 price target on the stock. Susquehanna reiterated an "overweight" rating on shares of Talen Energy in a research note on Thursday, June 12th. Finally, Wall Street Zen upgraded shares of Talen Energy from a "sell" rating to a "hold" rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Talen Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $255.25.

Talen Energy Trading Down 3.7%

TLN traded down $10.78 during trading on Tuesday, reaching $279.99. 1,277,019 shares of the stock traded hands, compared to its average volume of 1,093,953. Talen Energy Corporation has a 12 month low of $98.50 and a 12 month high of $301.70. 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 is $249.97 and its 200 day moving average is $224.94. The stock has a market capitalization of $12.74 billion, a PE ratio of 29.07, a P/E/G ratio of 7.15 and a beta of 1.79.

Talen Energy (NASDAQ:TLN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $1.17 by ($0.35). The business had revenue of $390.00 million for the quarter, compared to the consensus estimate of $556.93 million. Talen Energy had a net margin of 28.51% and a return on equity of 11.47%. Equities analysts anticipate that Talen Energy Corporation will post 15.94 earnings per share for the current year.

Insider Activity

In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of Talen Energy stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $296.04, for a total value of $52,695,120.00. Following the completion of the transaction, the insider owned 5,734,970 shares in the company, valued at $1,697,780,518.80. This trade represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 388,530 shares of company stock worth $114,090,933.

Talen Energy Company 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.