Freestone Grove Partners LP Buys Shares of 7,451 Talen Energy Corporation $TLN

Key Points

• Freestone Grove Partners purchased 7,451 Talen Energy shares worth approximately $2.86 million during the second quarter. Institutional investors collectively own 0.38% of the company.
• Talen Energy reported quarterly revenue of $747 million and a loss of $2.00 per share, missing analyst expectations of $832.81 million in revenue and $3.21 EPS.
• TLN opened at $296.11, near its one-year low of $294.75. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $466.86, despite one recent downgrade to “Sell.”

Freestone Grove Partners LP purchased a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,451 shares of the utilities provider's stock, valued at approximately $2,863,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of Talen Energy during the third quarter worth $35,000. Northwestern Mutual Wealth Management Co. lifted its stake in Talen Energy by 1,500.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider's stock valued at $36,000 after buying an additional 90 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Talen Energy in the second quarter valued at about $38,000. Bessemer Group Inc. boosted its holdings in Talen Energy by 404.0% during the first quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider's stock worth $41,000 after buying an additional 101 shares during the last quarter. Finally, Silvant Capital Management LLC bought a new position in Talen Energy during the second quarter worth about $42,000. 0.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the transaction, the director owned 2,606 shares of the company's stock, valued at approximately $990,280. The trade was a 49.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.78% of the company's stock.

Talen Energy Trading Down 2.8%

NASDAQ TLN opened at $296.11 on Friday. The firm has a market cap of $14.19 billion, a P/E ratio of -71.01 and a beta of 1.90. The company has a debt-to-equity ratio of 5.82, a current ratio of 0.78 and a quick ratio of 0.55. The stock's 50-day moving average is $358.05 and its 200-day moving average is $356.13. Talen Energy Corporation has a one year low of $294.75 and a one year high of $451.28.

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 the consensus estimate 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 business had revenue of $747.00 million during the quarter, compared to analyst estimates of $832.81 million. Sell-side analysts anticipate that Talen Energy Corporation will post 21.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TLN shares. Scotiabank boosted their target price on Talen Energy from $463.00 to $470.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 15th. Morgan Stanley cut 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, August 21st. The Goldman Sachs Group reissued a "buy" rating and set a $509.00 price objective on shares of Talen Energy in a research note on Monday, August 10th. Wells Fargo & Company boosted their price objective on shares of Talen Energy from $482.00 to $501.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of Talen Energy from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Talen Energy has a consensus rating of "Moderate Buy" and a consensus price target of $466.86.

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).

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