CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT trimmed its stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 18.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 88,700 shares of the utilities provider's stock after selling 20,500 shares during the quarter. Talen Energy comprises 1.1% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 19th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.19% of Talen Energy worth $17,711,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also made changes to their positions in TLN. Transcend Capital Advisors LLC acquired a new stake in shares of Talen Energy in the first quarter valued at approximately $534,000. Goldstein Advisors LLC bought a new position in Talen Energy in the 1st quarter worth approximately $211,000. Golden State Wealth Management LLC acquired a new stake in Talen Energy in the 1st quarter valued at approximately $35,000. Oppenheimer & Co. Inc. bought a new stake in Talen Energy during the 1st quarter valued at $703,000. Finally, Oppenheimer Asset Management Inc. boosted its position in Talen Energy by 10.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,205 shares of the utilities provider's stock worth $2,237,000 after acquiring an additional 1,055 shares during the period. Institutional investors own 0.38% of the company's stock.
Insiders Place Their Bets
In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the completion of the sale, the insider directly owned 5,734,970 shares in the company, valued at approximately $1,697,780,518.80. This trade represents a 3.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 388,530 shares of company stock worth $114,090,933 over the last quarter.
Analysts Set New Price Targets
A number of research analysts have recently commented on TLN shares. UBS Group raised their price target on Talen Energy from $296.00 to $366.00 and gave the company a "buy" rating in a report on Friday. Wall Street Zen upgraded shares of Talen Energy from a "sell" rating to a "hold" rating in a research report on Monday. Susquehanna reaffirmed an "overweight" rating on shares of Talen Energy in a research note on Thursday, June 12th. Raymond James Financial initiated coverage on shares of Talen Energy in a research note on Friday, June 13th. They set an "outperform" rating and a $314.00 price objective on the stock. Finally, Daiwa Capital Markets set a $200.00 target price on Talen Energy in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $255.25.
Check Out Our Latest Research Report on TLN
Talen Energy Trading Down 3.7%
Shares of NASDAQ:TLN traded down $10.78 during midday trading on Tuesday, reaching $279.99. The company had a trading volume of 1,262,934 shares, compared to its average volume of 1,093,899. The company has a fifty day simple moving average of $249.97 and a two-hundred day simple moving average of $224.94. The firm has a market cap of $12.74 billion, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 7.15 and a beta of 1.79. Talen Energy Corporation has a 1-year low of $98.50 and a 1-year high of $301.70. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.20 and a current ratio of 1.62.
Talen Energy (NASDAQ:TLN - Get Free Report) last announced its earnings results on Thursday, May 8th. The utilities provider reported $0.82 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.35). Talen Energy had a return on equity of 11.47% and a net margin of 28.51%. The firm had revenue of $390.00 million during the quarter, compared to analyst estimates of $556.93 million. Research analysts predict that Talen Energy Corporation will post 15.94 earnings per share for the current year.
About Talen Energy
(
Free Report)
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.
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