Exchange Traded Concepts LLC Takes $6.31 Million Position in Talen Energy Corporation $TLN

Key Points

• Exchange Traded Concepts LLC has acquired a stake in Talen Energy Corporation, purchasing 21,716 shares valued at approximately $6.31 million.
• Institutional investors have shown increased interest in Talen Energy, with several firms enhancing their holdings in the first quarter, including IFP Advisors Inc, which raised its stake by 42.4%.
• Talen Energy's stock has an average rating of "Buy" from analysts, with the average target price set at $354.29.

Exchange Traded Concepts LLC acquired a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 21,716 shares of the utilities provider's stock, valued at approximately $6,314,000.

A number of other institutional investors have also recently bought and sold shares of the business. Signaturefd LLC raised its position in shares of Talen Energy by 310.0% in the 1st quarter. Signaturefd LLC now owns 123 shares of the utilities provider's stock valued at $25,000 after buying an additional 93 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Talen Energy in the 1st quarter valued at approximately $25,000. Golden State Wealth Management LLC acquired a new position in shares of Talen Energy in the 1st quarter valued at approximately $35,000. LRI Investments LLC raised its position in shares of Talen Energy by 179.0% in the 1st quarter. LRI Investments LLC now owns 173 shares of the utilities provider's stock valued at $35,000 after buying an additional 111 shares in the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Talen Energy in the 1st quarter valued at approximately $35,000. Institutional investors own 0.38% of the company's stock.

Talen Energy Stock Down 1.8%

Shares of TLN stock traded down $7.53 on Tuesday, hitting $422.20. The stock had a trading volume of 184,768 shares, compared to its average volume of 1,161,480. The stock has a market cap of $19.29 billion, a price-to-earnings ratio of 119.47, a price-to-earnings-growth ratio of 2.24 and a beta of 1.89. The business has a 50 day moving average of $369.81 and a 200 day moving average of $282.20. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.84 and a quick ratio of 1.34. Talen Energy Corporation has a 12-month low of $148.02 and a 12-month high of $430.71.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of ($1.13) by $2.63. The company had revenue of $630.00 million during the quarter, compared to analyst estimates of $481.48 million. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. As a group, analysts expect that Talen Energy Corporation will post 15.94 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Talen Energy from $330.00 to $430.00 and gave the company an "overweight" rating in a research report on Wednesday, September 10th. Jefferies Financial Group upped their price objective on shares of Talen Energy from $326.00 to $380.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Raymond James Financial initiated coverage on shares of Talen Energy in a research report on Friday, June 13th. They set an "outperform" rating and a $314.00 price objective for the company. Scotiabank initiated coverage on shares of Talen Energy in a research report on Monday. They set a "sector perform" rating and a $418.00 price objective for the company. Finally, Melius Research upped their price objective on shares of Talen Energy from $427.00 to $576.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $358.53.

Insiders Place Their Bets

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the completion of the transaction, the insider owned 5,734,970 shares in the company, valued at $1,697,780,518.80. This trade represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 388,530 shares of company stock worth $114,090,933 in the last three months.

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.