CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT reduced its holdings in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 18.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund 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 biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.19% of Talen Energy worth $17,711,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in TLN. Golden State Wealth Management LLC acquired a new stake in Talen Energy during the first quarter worth about $35,000. Jones Financial Companies Lllp acquired a new stake in Talen Energy during the fourth quarter worth about $37,000. State of Wyoming acquired a new stake in Talen Energy during the fourth quarter worth about $50,000. Whipplewood Advisors LLC acquired a new stake in Talen Energy during the fourth quarter worth about $53,000. Finally, Tower Research Capital LLC TRC grew its position in Talen Energy by 7,285.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 517 shares of the utilities provider's stock worth $104,000 after buying an additional 510 shares in the last quarter. 0.38% of the stock is owned by institutional investors and hedge funds.
Talen Energy Price Performance
Shares of NASDAQ:TLN traded up $6.50 during trading on Friday, reaching $297.88. The stock had a trading volume of 4,503,202 shares, compared to its average volume of 1,094,351. Talen Energy Corporation has a 52 week low of $98.50 and a 52 week high of $300.00. The business's 50-day moving average price is $247.98 and its 200 day moving average price is $224.25. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.62 and a quick ratio of 1.20. The stock has a market capitalization of $13.56 billion, a PE ratio of 30.93, a P/E/G ratio of 7.15 and a beta of 1.78.
Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.82 earnings per share 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 company had revenue of $390.00 million during the quarter, compared to the consensus estimate of $556.93 million. As a group, equities analysts predict that Talen Energy Corporation will post 15.94 earnings per share for the current year.
Insider Buying and Selling
In related news, major shareholder Rubric Capital Management Lp sold 102,217 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $291.98, for a total value of $29,845,319.66. Following the completion of the transaction, the insider now owns 5,912,970 shares in the company, valued at $1,726,468,980.60. The trade was a 1.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 388,530 shares of company stock worth $114,090,933 in the last quarter. Insiders own 0.18% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on TLN shares. UBS Group lifted their target price on Talen Energy from $296.00 to $366.00 and gave the stock a "buy" rating in a research report on Friday. Wall Street Zen downgraded Talen Energy from a "hold" rating to a "sell" rating in a report on Sunday, June 22nd. Barclays decreased their price objective on Talen Energy from $293.00 to $282.00 and set an "overweight" rating on the stock in a report on Tuesday, March 4th. Susquehanna reaffirmed an "overweight" rating on shares of Talen Energy in a report on Thursday, June 12th. Finally, Raymond James Financial initiated coverage on Talen Energy in a report on Friday, June 13th. They set an "outperform" rating and a $314.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Talen Energy presently has an average rating of "Moderate Buy" and an average target price of $255.25.
Get Our Latest Stock Report on TLN
Talen Energy Company Profile
(
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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