Connor Clark & Lunn Investment Management Ltd. Takes Position in Talen Energy Corporation $TLN

Key Points

• Connor Clark & Lunn Investment Management bought 15,869 Talen Energy shares during the second quarter, valued at approximately $6.1 million. Several other institutional investors also initiated or increased positions, though institutions collectively own only 0.38% of the company.
• Talen Energy’s shares opened at $304.58, near their 52-week low of $300.51 and well below the 52-week high of $451.28. The company reported quarterly revenue of $747 million and a loss of $2.00 per share, missing analyst expectations for $832.81 million in revenue and $3.21 in earnings per share.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $466.86, despite targets ranging from $405 to $560 and one recent downgrade to “sell.”

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,869 shares of the utilities provider's stock, valued at approximately $6,098,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. purchased a new stake in shares of Talen Energy during the 2nd quarter valued at $4,132,000. Oppenheimer & Co. Inc. lifted its holdings in shares of Talen Energy by 400.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 14,105 shares of the utilities provider's stock worth $5,287,000 after acquiring an additional 11,287 shares during the last quarter. Ninepoint Partners LP purchased a new position in Talen Energy in the second quarter worth $1,694,000. Sanctuary Advisors LLC grew its position in Talen Energy by 116.8% in the fourth quarter. Sanctuary Advisors LLC now owns 6,454 shares of the utilities provider's stock worth $2,419,000 after acquiring an additional 3,477 shares in the last quarter. Finally, 180 GPS Investments IC Ltd bought a new position in Talen Energy in the second quarter valued at $8,636,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Talen Energy Price Performance

Shares of NASDAQ:TLN opened at $304.58 on Friday. The stock has a market cap of $14.59 billion, a PE ratio of -73.04 and a beta of 1.90. The company's fifty day moving average is $360.85 and its 200 day moving average is $356.56. Talen Energy Corporation has a 52 week low of $300.51 and a 52 week high of $451.28. 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 (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing the consensus estimate of $3.21 by ($5.21). Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%.The business had revenue of $747.00 million during the quarter, compared to the consensus estimate of $832.81 million. Research analysts anticipate that Talen Energy Corporation will post 21.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Gizman I. Abbas sold 2,600 shares of the firm'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 transaction, the director directly owned 2,606 shares in the company, valued at $990,280. This trade represents a 49.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TLN has been the topic of a number of research reports. Zacks Research upgraded Talen Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 29th. Mizuho initiated coverage on Talen Energy in a report on Monday. They issued an "outperform" rating and a $405.00 price objective for the company. The Goldman Sachs Group reiterated a "buy" rating and set a $509.00 price objective on shares of Talen Energy in a research report on Monday, August 10th. Wall Street Zen cut Talen Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Finally, BNP Paribas Exane restated an "outperform" rating and issued a $560.00 target price on shares of Talen Energy in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $466.86.

Talen Energy Company 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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