Hsbc Holdings PLC Purchases 23,299 Shares of Talen Energy Corporation $TLN

Key Points

• Hsbc Holdings PLC sharply increased its stake in Talen Energy, buying 23,299 shares in the fourth quarter and lifting its holdings to 24,249 shares worth about $9.19 million.
• Talen Energy stock was trading around $367.88, near its 50-day and 200-day moving averages, with a market value of $17.62 billion and a highly leveraged balance sheet.
• Analyst sentiment remains mostly positive, with 11 Buy ratings and 4 Hold ratings; the consensus price target is $458.77, though Jefferies recently downgraded the stock to Hold.

Hsbc Holdings PLC boosted its position in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 2,452.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,249 shares of the utilities provider's stock after buying an additional 23,299 shares during the quarter. Hsbc Holdings PLC owned approximately 0.05% of Talen Energy worth $9,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Daiwa Securities Group Inc. grew its stake in shares of Talen Energy by 5.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 671 shares of the utilities provider's stock worth $252,000 after acquiring an additional 36 shares during the period. Compound Planning Inc. raised its stake in Talen Energy by 4.7% in the 4th quarter. Compound Planning Inc. now owns 841 shares of the utilities provider's stock valued at $315,000 after acquiring an additional 38 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its holdings in Talen Energy by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 10,223 shares of the utilities provider's stock valued at $3,832,000 after purchasing an additional 39 shares during the last quarter. Berbice Capital Management LLC lifted its holdings in Talen Energy by 19.1% during the fourth quarter. Berbice Capital Management LLC now owns 280 shares of the utilities provider's stock valued at $105,000 after purchasing an additional 45 shares during the last quarter. Finally, Red Door Wealth Management LLC lifted its holdings in Talen Energy by 2.2% during the fourth quarter. Red Door Wealth Management LLC now owns 2,191 shares of the utilities provider's stock valued at $821,000 after purchasing an additional 47 shares during the last quarter. 0.38% of the stock is currently owned by institutional investors.

Talen Energy Stock Up 0.3%

TLN stock opened at $367.88 on Thursday. The stock has a 50-day simple moving average of $377.35 and a two-hundred day simple moving average of $361.70. Talen Energy Corporation has a twelve month low of $255.50 and a twelve month high of $451.28. The firm has a market capitalization of $17.62 billion, a PE ratio of -549.07 and a beta of 1.82. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32.

Insider Activity at Talen Energy

In related 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 completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.78% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group downgraded shares of Talen Energy from a "buy" rating to a "hold" rating and set a $453.00 target price for the company. in a research note on Tuesday, June 23rd. Weiss Ratings upgraded shares of Talen Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, May 7th. The Goldman Sachs Group started coverage on shares of Talen Energy in a report on Thursday, June 18th. They issued a "buy" rating and a $499.00 price objective for the company. Barclays lifted their price objective on shares of Talen Energy from $408.00 to $411.00 and gave the company an "overweight" rating in a research note on Tuesday, May 19th. Finally, Morgan Stanley reissued an "overweight" rating and set a $508.00 target price on shares of Talen Energy in a report on Wednesday, June 24th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Talen Energy has a consensus rating of "Moderate Buy" and an average target price of $458.77.

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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