Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Position in Talen Energy Corporation $TLN

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its Talen Energy stake by 379.7% in the first quarter, buying 43,414 additional shares to bring its total to 54,847 shares worth about $17.5 million.
• Talen Energy shares were trading at $385.80, with a 52-week range of $255.50 to $451.28 and a market cap of $18.48 billion.
• Analysts remain broadly bullish on the stock, with a Moderate Buy consensus and an average price target of $470.75, even as director Gizman I. Abbas sold 2,600 shares in June.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 379.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 54,847 shares of the utilities provider's stock after buying an additional 43,414 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.12% of Talen Energy worth $17,509,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Flagship Harbor Advisors LLC acquired a new position in shares of Talen Energy during the fourth quarter worth $27,000. Advisory Services Network LLC acquired a new stake in Talen Energy during the 3rd quarter valued at $35,000. Northwestern Mutual Wealth Management Co. grew its holdings in Talen Energy by 1,500.0% during the 4th 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. purchased a new stake in Talen Energy during the 4th quarter worth $39,000. Finally, Rothschild Investment LLC increased its stake in Talen Energy by 235.0% during the 4th quarter. Rothschild Investment LLC now owns 134 shares of the utilities provider's stock worth $50,000 after buying an additional 94 shares during the period. 0.38% of the stock is owned by institutional investors and hedge funds.

Talen Energy Stock Performance

NASDAQ:TLN opened at $385.80 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32. The business's 50 day moving average is $378.50 and its two-hundred day moving average is $361.84. Talen Energy Corporation has a 52 week low of $255.50 and a 52 week high of $451.28. The company has a market cap of $18.48 billion, a PE ratio of -575.81 and a beta of 1.82.

Insider Activity

In related news, Director Gizman I. Abbas sold 2,600 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the sale, the director directly owned 2,606 shares of the company's stock, valued at approximately $990,280. This represents a 49.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.78% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TLN shares. BNP Paribas Exane initiated coverage on shares of Talen Energy in a research report on Wednesday, March 18th. They issued an "outperform" rating and a $548.00 price objective for the company. Wells Fargo & Company lifted their target price on Talen Energy from $465.00 to $477.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Morgan Stanley reiterated an "overweight" rating and issued a $508.00 price target on shares of Talen Energy in a research note on Wednesday, June 24th. Weiss Ratings raised Talen Energy from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, May 7th. Finally, Raymond James Financial restated an "outperform" rating and set a $457.00 price objective on shares of Talen Energy in a research note on Monday, April 27th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $470.75.

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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