Jupiter Topco LLC Acquires Shares of 48,816 Talen Energy Corporation $TLN

Key Points

• Jupiter Topco LLC acquired 48,816 Talen Energy shares worth approximately $18.8 million, representing about 0.10% of the company. Other major institutions, including BlackRock and MFN Partners, also initiated sizable positions.
• Talen Energy reported disappointing quarterly results, posting a $2.00 loss per share versus analysts’ expected $3.21 profit, while revenue of $747 million fell short of the $832.8 million forecast.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $466.86, despite recent target reductions and the stock opening at $296.11.

Jupiter Topco LLC bought a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 48,816 shares of the utilities provider's stock, valued at approximately $18,765,000. Jupiter Topco LLC owned approximately 0.10% of Talen Energy at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Talen Energy in the second quarter valued at approximately $1,673,803,000. MFN Partners Management LP acquired a new position in Talen Energy during the second quarter worth $1,152,780,000. State Street Corp boosted its stake in Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider's stock worth $569,455,000 after buying an additional 627,467 shares during the last quarter. Norges Bank purchased a new stake in Talen Energy in the 4th quarter valued at $225,930,000. Finally, Two Seas Capital LP purchased a new stake in Talen Energy in the 2nd quarter valued at $194,900,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Stock Performance

Shares of Talen Energy stock opened at $296.11 on Friday. Talen Energy Corporation has a 52 week low of $294.75 and a 52 week high of $451.28. The business's fifty day simple moving average is $358.05 and its 200-day simple moving average is $356.13. The firm has a market cap of $14.19 billion, a PE ratio of -71.01 and a beta of 1.90. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82.

Talen Energy (NASDAQ:TLN - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing analysts' consensus estimates of $3.21 by ($5.21). The business had revenue of $747.00 million for the quarter, compared to analysts' expectations of $832.81 million. Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%. Equities analysts forecast that Talen Energy Corporation will post 21.99 earnings per share for the current year.

Insider Buying and Selling

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction dated 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 $990,280. This trade represents 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. 0.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Morgan Stanley reduced their price target on Talen Energy from $508.00 to $503.00 and set an "overweight" rating on the stock in a report on Friday, August 21st. Zacks Research lowered shares of Talen Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday. Jefferies Financial Group cut their price objective on shares of Talen Energy from $453.00 to $422.00 and set a "hold" rating for the company in a research report on Monday, July 20th. Mizuho initiated coverage on shares of Talen Energy in a research note on Monday, August 24th. They set an "outperform" rating and a $405.00 target price on the stock. Finally, Scotiabank boosted their target price on shares of Talen Energy from $463.00 to $470.00 and gave the company a "sector perform" rating in a report on Wednesday, July 15th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $466.86.

Talen Energy Company 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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