Invesco Ltd. Sells 148,615 Shares of Talen Energy Corporation $TLN

Key Points

• Invesco Ltd. reduced its holdings in Talen Energy Corporation by 22.8%, owning 1.11% of the company valued at $100.61 million after selling 148,615 shares.
• Talen Energy reported a net income of $630 million for the quarter, significantly surpassing analysts' estimates, and its earnings per share came in at $1.50.
• Several institutional investors have increased their stakes, with IFP Advisors Inc. lifting theirs by 42.4%, and Talen Energy currently has an average analyst rating of Moderate Buy.

Invesco Ltd. reduced its position in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 22.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 503,863 shares of the utilities provider's stock after selling 148,615 shares during the quarter. Invesco Ltd. owned about 1.11% of Talen Energy worth $100,606,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Fred Alger Management LLC grew its holdings in shares of Talen Energy by 152.9% during the 4th quarter. Fred Alger Management LLC now owns 954,747 shares of the utilities provider's stock valued at $192,353,000 after purchasing an additional 577,257 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of Talen Energy during the 4th quarter valued at approximately $48,333,000. Lone Pine Capital LLC grew its holdings in shares of Talen Energy by 27.2% during the 4th quarter. Lone Pine Capital LLC now owns 1,089,380 shares of the utilities provider's stock valued at $219,477,000 after purchasing an additional 233,165 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Talen Energy by 1,210.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 131,082 shares of the utilities provider's stock valued at $27,192,000 after purchasing an additional 121,082 shares during the last quarter. Finally, Castle Hook Partners LP bought a new stake in shares of Talen Energy during the 4th quarter valued at approximately $24,201,000. 0.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Talen Energy from $353.00 to $418.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. UBS Group set a $431.00 target price on shares of Talen Energy and gave the stock a "buy" rating in a report on Friday, July 25th. Susquehanna reissued an "overweight" rating on shares of Talen Energy in a report on Thursday, June 12th. Oppenheimer set a $315.00 target price on shares of Talen Energy and gave the stock an "outperform" rating in a report on Friday, July 11th. Finally, Jefferies Financial Group boosted their target price on shares of Talen Energy from $326.00 to $380.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Sixteen research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $316.00.

Talen Energy Stock Down 2.1%

TLN traded down $7.8230 during trading on Wednesday, hitting $360.3370. 499,265 shares of the company's stock were exchanged, compared to its average volume of 1,165,929. The company has a quick ratio of 1.34, a current ratio of 1.84 and a debt-to-equity ratio of 2.39. The business's 50 day moving average is $319.60 and its two-hundred day moving average is $254.06. Talen Energy Corporation has a fifty-two week low of $136.56 and a fifty-two week high of $394.07. The stock has a market cap of $16.46 billion, a P/E ratio of 101.94, a PEG ratio of 2.77 and a beta of 1.90.

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

Insider Activity at Talen Energy

In other 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 value of $52,695,120.00. Following the completion of the sale, the insider owned 5,734,970 shares in the company, valued at $1,697,780,518.80. This represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 388,530 shares of company stock valued at $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.