Janney Montgomery Scott LLC Sells 4,966 Shares of Talen Energy Corporation $TLN

Key Points

• Janney Montgomery Scott LLC cut its Talen Energy stake by 42.7% in the first quarter, selling 4,966 shares and leaving it with 6,663 shares valued at about $2.13 million.
• Other institutional ownership changes were mixed, but institutional investors collectively hold only a small portion of the company, at 0.38% of shares.
• Analysts remain broadly constructive on Talen Energy: the stock carries a consensus “Moderate Buy” rating with an average price target of $458.77, even as one recent downgrade and several target-price changes were reported.

Janney Montgomery Scott LLC lowered its holdings in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 42.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,663 shares of the utilities provider's stock after selling 4,966 shares during the quarter. Janney Montgomery Scott LLC's holdings in Talen Energy were worth $2,127,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC acquired a new position in shares of Talen Energy during the fourth quarter worth approximately $27,000. Advisory Services Network LLC acquired a new stake in shares of Talen Energy in the third quarter worth $35,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 worth $36,000 after acquiring an additional 90 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Talen Energy during the fourth quarter worth $39,000. Finally, Rothschild Investment LLC increased its position in Talen Energy by 235.0% during the fourth quarter. Rothschild Investment LLC now owns 134 shares of the utilities provider's stock worth $50,000 after acquiring an additional 94 shares during the period. 0.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TLN has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price target on shares of Talen Energy from $448.00 to $421.00 and set an "overweight" rating for the company in a report on Thursday, March 19th. Wells Fargo & Company boosted their price objective on shares of Talen Energy from $465.00 to $477.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Jefferies Financial Group lowered shares of Talen Energy from a "buy" rating to a "hold" rating and set a $453.00 price objective for the company. in a research report on Tuesday, June 23rd. Morgan Stanley reiterated an "overweight" rating and issued a $508.00 target price on shares of Talen Energy in a research note on Wednesday, June 24th. Finally, Raymond James Financial reissued an "outperform" rating and set a $457.00 target price on shares of Talen Energy in a research report on Monday, April 27th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $458.77.

Insider Transactions at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction 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 completion of the transaction, the director owned 2,606 shares in the company, valued at approximately $990,280. This represents a 49.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.78% of the stock is owned by company insiders.

Talen Energy Stock Performance

Shares of NASDAQ TLN opened at $367.88 on Thursday. The firm has a market capitalization of $17.62 billion, a price-to-earnings ratio of -549.07 and a beta of 1.82. Talen Energy Corporation has a one year low of $255.50 and a one year high of $451.28. The business has a fifty day simple moving average of $377.35 and a 200 day simple moving average of $361.70. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32.

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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