Elevation Point Wealth Partners LLC Makes New Investment in Talen Energy Corporation $TLN

Key Points

• Elevation Point Wealth Partners purchased 6,344 Talen Energy shares worth approximately $2.44 million during the second quarter. Several other institutional investors also initiated positions, although institutional ownership remains low at 0.38%.
• Talen Energy reported a quarterly loss of $2.00 per share, missing consensus expectations of $3.21, while revenue of $747 million also fell short of estimates. The company posted a negative net margin of 5.38% and carries a debt-to-equity ratio of 5.82.
• Despite the earnings miss and shares opening at $314.46—well below their moving averages—analysts maintain a “Moderate Buy” consensus rating with an average price target of $477.17.

Elevation Point Wealth Partners LLC purchased a new stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 6,344 shares of the utilities provider's stock, valued at approximately $2,438,000.

Several other institutional investors have also modified their holdings of TLN. Northwestern Mutual Wealth Management Co. bought a new position in Talen Energy during the second quarter valued at about $41,000. MFN Partners Management LP bought a new stake in Talen Energy in the second quarter worth about $1,152,780,000,000. Quantbot Technologies LP bought a new stake in Talen Energy in the second quarter worth about $413,000. Evolve Private Wealth LLC acquired a new stake in Talen Energy in the 2nd quarter valued at about $720,000. Finally, Orchard Capital Management LLC acquired a new stake in Talen Energy in the 2nd quarter valued at about $407,000. Institutional investors and hedge funds own 0.38% of the company's stock.

Talen Energy Stock Performance

Shares of TLN opened at $314.46 on Monday. The business's 50-day moving average price is $369.15 and its 200 day moving average price is $357.29. The company has a current ratio of 0.78, a quick ratio of 0.55 and a debt-to-equity ratio of 5.82. The stock has a market capitalization of $15.07 billion, a P/E ratio of -75.41 and a beta of 1.90. Talen Energy Corporation has a 1-year low of $301.45 and a 1-year high of $451.28.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) EPS for the quarter, missing analysts' consensus estimates of $3.21 by ($5.21). Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. The firm had revenue of $747.00 million for the quarter, compared to analysts' expectations of $832.81 million. Analysts expect that Talen Energy Corporation will post 25.07 earnings per share for the current year.

Insider Activity

In other news, Director Gizman I. Abbas sold 2,600 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the sale, the director owned 2,606 shares in the company, valued at $990,280. The trade was a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.78% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TLN shares. Scotiabank lifted their price objective on shares of Talen Energy from $463.00 to $470.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 15th. The Goldman Sachs Group reissued a "buy" rating and set a $509.00 target price on shares of Talen Energy in a research note on Monday, August 10th. Morgan Stanley decreased their price target on shares of Talen Energy from $508.00 to $503.00 and set an "overweight" rating on the stock in a research report on Friday. Raymond James Financial reaffirmed an "outperform" rating and issued a $457.00 price target on shares of Talen Energy in a report on Monday, April 27th. Finally, Wall Street Zen downgraded Talen Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $477.17.

About Talen Energy

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source