Eagle Global Advisors LLC Invests $732,000 in Talen Energy Corporation (NASDAQ:TLN)

Key Points

• Eagle Global Advisors LLC invested $732,000 in Talen Energy, acquiring 3,666 shares of the company during the first quarter.
• Research analysts have recently increased their price targets for Talen Energy, with Jefferies Financial Group and Barclays setting targets of $380.00 and $359.00, respectively, reflecting optimism about the company's performance.
• Talen Energy reported a significant earnings beat in its latest quarterly results, achieving $1.50 EPS compared to consensus estimates of ($1.13), alongside revenues of $630 million.

Eagle Global Advisors LLC acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,666 shares of the utilities provider's stock, valued at approximately $732,000.

A number of other hedge funds have also recently bought and sold shares of the company. Fred Alger Management LLC grew its stake in Talen Energy by 152.9% in the 4th quarter. Fred Alger Management LLC now owns 954,747 shares of the utilities provider's stock worth $192,353,000 after buying an additional 577,257 shares in the last quarter. Encompass Capital Advisors LLC bought a new position in Talen Energy during the fourth quarter valued at approximately $48,333,000. Lone Pine Capital LLC grew its position in Talen Energy by 27.2% during the fourth quarter. Lone Pine Capital LLC now owns 1,089,380 shares of the utilities provider's stock valued at $219,477,000 after acquiring an additional 233,165 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Talen Energy by 1,210.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 131,082 shares of the utilities provider's stock valued at $27,192,000 after acquiring an additional 121,082 shares during the last quarter. Finally, Castle Hook Partners LP purchased a new stake in shares of Talen Energy during the fourth quarter valued at approximately $24,201,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Price Performance

NASDAQ TLN traded down $2.78 during trading hours on Friday, reaching $377.82. The company's stock had a trading volume of 764,735 shares, compared to its average volume of 1,172,153. The company has a market capitalization of $17.26 billion, a price-to-earnings ratio of 107.03, a PEG ratio of 2.79 and a beta of 1.90. Talen Energy Corporation has a 1 year low of $131.31 and a 1 year high of $394.07. The firm's 50-day moving average price is $312.56 and its 200-day moving average price is $250.53. The company has a quick ratio of 1.34, a current ratio of 1.84 and a debt-to-equity ratio of 2.39.

Talen Energy (NASDAQ:TLN - Get Free Report) last released its earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of ($1.13) by $2.63. Talen Energy had a return on equity of 17.81% and a net margin of 8.75%. The business had revenue of $630.00 million for the quarter, compared to analyst estimates of $481.48 million. On average, equities research analysts predict that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TLN. Barclays reissued an "overweight" rating and set a $418.00 price objective (up previously from $353.00) on shares of Talen Energy in a research note on Wednesday. Wall Street Zen raised Talen Energy from a "sell" rating to a "hold" rating in a research note on Monday. Raymond James Financial began coverage on Talen Energy in a research note on Friday, June 13th. They set an "outperform" rating and a $314.00 price objective for the company. UBS Group set a $431.00 price objective on Talen Energy and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Susquehanna reissued an "overweight" rating on shares of Talen Energy in a research note on Thursday, June 12th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $297.50.

Insiders Place Their Bets

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $296.04, for a total value of $52,695,120.00. Following the sale, the insider directly owned 5,734,970 shares of the company's stock, valued at approximately $1,697,780,518.80. This represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 388,530 shares of company stock worth $114,090,933 over the last 90 days. 0.18% of the stock is owned by company insiders.

Talen Energy Company Profile

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.