Legal & General Group Plc Takes Position in Talen Energy Corporation $TLN

Key Points

• Legal & General Group Plc acquired 50,333 Talen Energy shares worth approximately $19.3 million, representing 0.11% of the company. Other institutional investors also added to or initiated positions, though total institutional ownership remains low at 0.38%.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $466.86, despite some rating and target-price reductions.
• Talen Energy reported a quarterly loss of $2.00 per share and revenue of $747 million, missing estimates, while the stock opened at $296.11—near its 12-month low—and carries substantial leverage with a debt-to-equity ratio of 5.82.

Legal & General Group Plc acquired a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 50,333 shares of the utilities provider's stock, valued at approximately $19,341,000. Legal & General Group Plc owned 0.11% of Talen Energy as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TLN. Advisory Services Network LLC purchased a new position in Talen Energy in the 3rd quarter worth approximately $35,000. Northwestern Mutual Wealth Management Co. grew its holdings in Talen Energy by 1,500.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider's stock valued at $36,000 after buying an additional 90 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Talen Energy during the 2nd quarter valued at approximately $38,000. Bessemer Group Inc. raised its position in shares of Talen Energy by 404.0% during the first quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider's stock valued at $41,000 after buying an additional 101 shares during the last quarter. Finally, Silvant Capital Management LLC bought a new stake in shares of Talen Energy during the second quarter valued at approximately $42,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

TLN has been the subject of several research analyst reports. Wall Street Zen cut shares of Talen Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Morgan Stanley cut their price objective on Talen Energy from $508.00 to $503.00 and set an "overweight" rating for the company in a research report on Friday, August 21st. New Street Research set a $405.00 target price on Talen Energy in a research report on Monday, August 24th. Jefferies Financial Group dropped their price target on Talen Energy from $453.00 to $422.00 and set a "hold" rating for the company in a research note on Monday, July 20th. Finally, Susquehanna set a $449.00 price target on Talen Energy in a report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $466.86.

Insider Activity at Talen Energy

In related news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction 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 sale, the director 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 is accessible through this hyperlink. Company insiders own 0.78% of the company's stock.

Talen Energy Stock Performance

Talen Energy stock opened at $296.11 on Friday. The company's 50-day moving average price is $358.05 and its 200-day moving average price is $356.13. Talen Energy Corporation has a twelve month low of $294.75 and a twelve month high of $451.28. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82. The company has a market cap of $14.19 billion, a PE ratio of -71.01 and a beta of 1.90.

Talen Energy (NASDAQ:TLN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) EPS 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 during the quarter, compared to the consensus estimate of $832.81 million. On average, equities research analysts forecast that Talen Energy Corporation will post 21.99 EPS for the current fiscal year.

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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