Empowered Funds LLC Acquires New Shares in Talen Energy Corporation $TLN

Key Points

• Empowered Funds LLC acquired 15,780 Talen Energy shares worth approximately $6.1 million in the second quarter. Other major investors, including BlackRock and MFN Partners, also established large positions.
• Talen Energy reported a quarterly loss of $2.00 per share, missing consensus estimates by $5.21, while revenue of $747 million fell short of the $832.81 million forecast.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $466.86, despite shares opening at $296.11 and carrying substantial leverage.

Empowered Funds LLC acquired a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 15,780 shares of the utilities provider's stock, valued at approximately $6,064,000.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Talen Energy during the 2nd quarter valued at about $1,673,803,000. MFN Partners Management LP purchased a new position in shares of Talen Energy during the second quarter valued at approximately $1,152,780,000. State Street Corp lifted its position in Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider's stock valued at $569,455,000 after purchasing an additional 627,467 shares during the period. Norges Bank bought a new position in Talen Energy during the fourth quarter valued at approximately $225,930,000. Finally, Two Seas Capital LP purchased a new stake in Talen Energy in the second quarter worth approximately $194,900,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Talen Energy Price Performance

TLN opened at $296.11 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.55 and a debt-to-equity ratio of 5.82. Talen Energy Corporation has a 1-year low of $294.75 and a 1-year high of $451.28. The company has a market capitalization of $14.19 billion, a PE ratio of -71.01 and a beta of 1.90. The firm's 50 day simple moving average is $358.05 and its two-hundred day simple moving average is $356.15.

Talen Energy (NASDAQ:TLN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.21 by ($5.21). The business had revenue of $747.00 million for 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%. As a group, equities analysts forecast that Talen Energy Corporation will post 21.99 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TLN shares. Jefferies Financial Group cut their target price on shares of Talen Energy from $453.00 to $422.00 and set a "hold" rating for the company in a research report on Monday, July 20th. The Goldman Sachs Group restated a "buy" rating and issued a $509.00 price target on shares of Talen Energy in a research note on Monday, August 10th. Scotiabank increased their target price on Talen Energy from $463.00 to $470.00 and gave the company a "sector perform" rating in a report on Wednesday, July 15th. Mizuho started coverage on Talen Energy in a report on Monday, August 24th. They issued an "outperform" rating and a $405.00 target price on the stock. Finally, New Street Research set a $405.00 target price on Talen Energy in a research report on Monday, August 24th. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $466.86.

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 stock was 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 of the company's stock, valued at approximately $990,280. This trade represents a 49.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.78% of the stock is currently owned by corporate insiders.

Talen Energy Company 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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