Diversify Wealth Management LLC Makes New $10.26 Million Investment in Talen Energy Corporation $TLN

Key Points

• Diversify Wealth Management LLC opened a new position in Talen Energy during the first quarter, buying 29,150 shares valued at about $10.26 million.
• Talen Energy’s stock traded at $385.80 on Friday, near its recent moving averages and within a 52-week range of $255.50 to $451.28.
• Analyst sentiment remains constructive, with multiple firms issuing buy/overweight views and an average price target of $470.75; meanwhile, a company director recently sold about 49.9% of their stake.

Diversify Wealth Management LLC acquired a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,150 shares of the utilities provider's stock, valued at approximately $10,258,000. Diversify Wealth Management LLC owned about 0.06% of Talen Energy as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TLN. Fred Alger Management LLC grew its holdings in Talen Energy by 8.4% during the fourth quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider's stock worth $676,247,000 after buying an additional 140,345 shares in the last quarter. Reaves W H & Co. Inc. raised its position in Talen Energy by 7.9% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider's stock valued at $570,393,000 after buying an additional 111,160 shares during the last quarter. Invesco Ltd. lifted its stake in Talen Energy by 35.6% during the 4th quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider's stock valued at $540,287,000 after acquiring an additional 378,357 shares in the last quarter. State Street Corp lifted its stake in Talen Energy by 88.2% during the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider's stock valued at $569,455,000 after acquiring an additional 627,467 shares in the last quarter. Finally, Lone Pine Capital LLC boosted its holdings in Talen Energy by 9.5% during the 3rd quarter. Lone Pine Capital LLC now owns 1,192,516 shares of the utilities provider's stock worth $507,272,000 after acquiring an additional 103,136 shares during the last quarter. Institutional investors own 0.38% of the company's stock.

Talen Energy Stock Performance

Shares of TLN stock traded up $1.36 on Friday, hitting $385.80. 458,843 shares of the stock were exchanged, compared to its average volume of 950,612. The firm's 50 day moving average is $378.50 and its two-hundred day moving average is $361.96. Talen Energy Corporation has a one year low of $255.50 and a one year high of $451.28. The firm has a market capitalization of $18.48 billion, a PE ratio of -575.81 and a beta of 1.82. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32.

Analyst Ratings Changes

Several analysts have recently issued reports on TLN shares. Weiss Ratings upgraded shares of Talen Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, May 7th. Raymond James Financial restated an "outperform" rating and set a $457.00 price target on shares of Talen Energy in a report on Monday, April 27th. Barclays upped their price objective on shares of Talen Energy from $408.00 to $411.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 19th. BNP Paribas Exane started coverage on Talen Energy in a research note on Wednesday, March 18th. They issued an "outperform" rating and a $548.00 target price on the stock. Finally, Morgan Stanley reiterated an "overweight" rating and set a $508.00 price target on shares of Talen Energy in a report on Wednesday, June 24th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Talen Energy currently has an average rating of "Moderate Buy" and an average price target of $470.75.

Insider Buying and Selling

In related news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the transaction, the director directly owned 2,606 shares in the company, valued at approximately $990,280. The trade was a 49.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.78% of the company's stock.

Talen Energy 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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