Kayne Anderson Capital Advisors LP Invests $2.66 Million in Talen Energy Corporation $TLN

Key Points

• Kayne Anderson Capital Advisors initiated a Talen Energy position by purchasing 6,928 shares valued at approximately $2.66 million. Institutional investors collectively own just 0.38% of the company.
• Talen Energy’s latest quarter fell short of expectations, reporting a $2.00 loss per share versus consensus expectations for $3.21 in earnings and revenue of $747 million versus estimates of $832.81 million.
• The stock opened at $316.99, well below its 52-week high of $451.28. Despite one downgrade to “sell” and a director’s sale of $988,000 in shares, analysts maintain a “Moderate Buy” consensus with an average price target of $477.58.

Kayne Anderson Capital Advisors LP bought a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,928 shares of the utilities provider's stock, valued at approximately $2,662,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TLN. Advisory Services Network LLC acquired a new stake in Talen Energy during the third quarter worth about $35,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Talen Energy by 1,500.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider's stock worth $36,000 after purchasing an additional 90 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Talen Energy in the 2nd quarter valued at about $38,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Talen Energy in the 4th quarter valued at about $39,000. Finally, Bessemer Group Inc. grew its holdings in shares of Talen Energy by 404.0% during the 1st quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider's stock worth $41,000 after purchasing an additional 101 shares during the period. Institutional investors and hedge funds own 0.38% of the company's stock.

Insider Activity at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the transaction, the director directly owned 2,606 shares in the company, valued at approximately $990,280. This represents a 49.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.78% of the company's stock.

Talen Energy Trading Down 1.7%

NASDAQ:TLN opened at $316.99 on Friday. The stock has a market cap of $15.19 billion, a price-to-earnings ratio of -76.02 and a beta of 1.90. Talen Energy Corporation has a one year low of $301.45 and a one year high of $451.28. The company has a debt-to-equity ratio of 5.82, a quick ratio of 0.55 and a current ratio of 0.78. The business's 50-day simple moving average is $370.07 and its 200 day simple moving average is $357.47.

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 for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $832.81 million. As a group, sell-side analysts predict that Talen Energy Corporation will post 25.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TLN. 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. The Goldman Sachs Group reaffirmed a "buy" rating and set a $509.00 price target on shares of Talen Energy in a research report on Monday, August 10th. Jefferies Financial Group decreased 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 note on Monday, July 20th. Susquehanna set a $449.00 price objective on shares of Talen Energy in a research report on Friday, August 7th. Finally, Weiss Ratings downgraded shares of Talen Energy from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $477.58.

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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