Dockside LLC Purchases Shares of 4,986 Talen Energy Corporation $TLN

Key Points

• Dockside LLC acquired 4,986 Talen Energy shares worth approximately $1.916 million in the second quarter, while other hedge funds also increased or initiated positions. Institutional investors collectively own 0.38% of the company.
• Talen Energy’s latest quarterly results fell short of expectations, with a $2.00 per-share loss versus the consensus estimate of $3.21 in earnings and revenue of $747 million versus $832.81 million expected.
• TLN shares opened at $362.74, and analysts maintain a generally positive outlook with a “Moderate Buy” consensus and an average price target of $476.58, despite one recent downgrade to “sell.”

Dockside LLC acquired a new stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,986 shares of the utilities provider's stock, valued at approximately $1,916,000.

Several other hedge funds also recently made changes to their positions in TLN. Advisory Services Network LLC acquired a new stake in Talen Energy during the third quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Talen Energy by 1,500.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider's stock valued at $36,000 after buying an additional 90 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Talen Energy in the fourth quarter valued at $39,000. Bessemer Group Inc. lifted its position in shares of Talen Energy by 404.0% during the 1st quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider's stock valued at $41,000 after acquiring an additional 101 shares during the last quarter. Finally, Rothschild Investment LLC lifted its position in shares of Talen Energy by 235.0% during the 4th quarter. Rothschild Investment LLC now owns 134 shares of the utilities provider's stock valued at $50,000 after acquiring an additional 94 shares during the last quarter. Institutional investors and hedge funds own 0.38% of the company's stock.

Talen Energy Stock Up 1.2%

TLN stock opened at $362.74 on Friday. Talen Energy Corporation has a twelve month low of $301.45 and a twelve month high of $451.28. The company has a market cap of $17.38 billion, a PE ratio of -86.99 and a beta of 1.90. The business's 50-day simple moving average is $371.89 and its 200 day simple moving average is $358.27. 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 announced its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (EPS) for the quarter, missing the consensus estimate of $3.21 by ($5.21). The business had revenue of $747.00 million during the quarter, compared to the consensus estimate of $832.81 million. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. On average, research analysts anticipate that Talen Energy Corporation will post 25.07 earnings per share for the current year.

Insider Transactions at Talen Energy

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction 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 completion of the transaction, the director directly owned 2,606 shares of the company's stock, valued at approximately $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.78% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TLN has been the topic of a number of recent analyst reports. Wall Street Zen lowered Talen Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Scotiabank boosted their price objective on shares of Talen Energy from $463.00 to $470.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 15th. Morgan Stanley reaffirmed an "overweight" rating and issued a $508.00 target price on shares of Talen Energy in a research report on Wednesday, June 24th. Susquehanna set a $449.00 price target on shares of Talen Energy in a report on Friday, August 7th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Talen Energy in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $476.58.

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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