First Trust Advisors LP Increases Stock Position in Talen Energy Corporation $TLN

Key Points

• First Trust Advisors increased its Talen Energy position by 5.7% in the first quarter, holding 61,815 shares valued at approximately $19.7 million. Other institutional investors also boosted their stakes, though institutional ownership remains low at 0.38%.
• Talen Energy shares fell 3.0% to $316.19, near the company’s 52-week low of $301.45 and well below its 50-day and 200-day moving averages.
• Wall Street remains broadly positive, with nine analysts rating TLN a Buy and four a Hold. The stock has a “Moderate Buy” consensus rating and an average price target of $476.45.

First Trust Advisors LP lifted its position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 5.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,815 shares of the utilities provider's stock after buying an additional 3,327 shares during the period. First Trust Advisors LP owned approximately 0.14% of Talen Energy worth $19,733,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TLN. Mirae Asset Global Investments Co. Ltd. lifted its position in Talen Energy by 1,526.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,054 shares of the utilities provider's stock valued at $9,766,000 after buying an additional 24,452 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Talen Energy by 11.8% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 45,250 shares of the utilities provider's stock worth $16,962,000 after buying an additional 4,770 shares during the period. Oppenheimer & Co. Inc. increased its position in shares of Talen Energy by 400.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 14,105 shares of the utilities provider's stock worth $5,287,000 after acquiring an additional 11,287 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of Talen Energy by 116.8% in the fourth quarter. Sanctuary Advisors LLC now owns 6,454 shares of the utilities provider's stock worth $2,419,000 after acquiring an additional 3,477 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Talen Energy in the 4th quarter valued at $50,324,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Trading Down 3.0%

TLN opened at $316.19 on Thursday. The firm has a market capitalization of $15.15 billion, a P/E ratio of -471.92 and a beta of 1.82. The firm's 50 day moving average is $379.35 and its 200-day moving average is $360.63. Talen Energy Corporation has a 52-week low of $301.45 and a 52-week high of $451.28. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TLN. Jefferies Financial Group reduced their target price on shares of Talen Energy from $453.00 to $422.00 and set a "hold" rating on the stock in a report on Monday, July 20th. Barclays lowered their price target on Talen Energy from $411.00 to $408.00 and set an "overweight" rating for the company in a report on Tuesday. Wells Fargo & Company raised their price objective on Talen Energy from $477.00 to $482.00 and gave the company an "overweight" rating in a research report on Monday. The Goldman Sachs Group initiated coverage on Talen Energy in a research note on Thursday, June 18th. They set a "buy" rating and a $499.00 price objective on the stock. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $457.00 target price on shares of Talen Energy in a research report on Monday, April 27th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Talen Energy currently has an average rating of "Moderate Buy" and an average price target of $476.45.

Insider Buying and Selling at Talen Energy

In related news, Director Gizman I. Abbas sold 2,600 shares of the firm's stock in a transaction 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.78% of the company's stock.

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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