Moloney Securities Asset Management LLC acquired a new stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,594 shares of the utilities provider's stock, valued at approximately $318,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Axxcess Wealth Management LLC bought a new position in shares of Talen Energy in the first quarter worth $775,000. Envestnet Asset Management Inc. raised its position in shares of Talen Energy by 44.5% in the first quarter. Envestnet Asset Management Inc. now owns 28,620 shares of the utilities provider's stock worth $5,715,000 after buying an additional 8,814 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its position in shares of Talen Energy by 7.5% in the first quarter. Riggs Asset Managment Co. Inc. now owns 9,793 shares of the utilities provider's stock worth $1,955,000 after buying an additional 682 shares in the last quarter. Bank of New York Mellon Corp raised its position in Talen Energy by 37.4% during the first quarter. Bank of New York Mellon Corp now owns 133,533 shares of the utilities provider's stock valued at $26,663,000 after purchasing an additional 36,325 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Talen Energy by 114.9% during the first quarter. Principal Financial Group Inc. now owns 3,591 shares of the utilities provider's stock valued at $717,000 after purchasing an additional 1,920 shares in the last quarter. 0.38% of the stock is owned by institutional investors.
Talen Energy Trading Up 3.2%
Shares of NASDAQ TLN traded up $8.55 during trading hours on Friday, hitting $276.17. The company's stock had a trading volume of 1,018,693 shares, compared to its average volume of 1,086,039. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.20 and a current ratio of 1.62. The stock has a market cap of $12.57 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 6.42 and a beta of 1.85. Talen Energy Corporation has a 12 month low of $98.50 and a 12 month high of $301.70. The business has a 50-day simple moving average of $262.04 and a 200-day simple moving average of $229.49.
Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.35). The firm had revenue of $390.00 million for the quarter, compared to the consensus estimate of $556.93 million. Talen Energy had a net margin of 28.51% and a return on equity of 11.47%. On average, analysts anticipate that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. Susquehanna restated an "overweight" rating on shares of Talen Energy in a research report on Thursday, June 12th. Oppenheimer lifted their price objective on Talen Energy from $250.00 to $315.00 and gave the stock an "outperform" rating in a report on Friday. Wall Street Zen upgraded Talen Energy from a "sell" rating to a "hold" rating in a report on Monday, June 30th. UBS Group lifted their price objective on Talen Energy from $296.00 to $366.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Finally, JPMorgan Chase & Co. decreased their price objective on Talen Energy from $295.00 to $265.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $260.67.
Read Our Latest Analysis on TLN
Insiders Place Their Bets
In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of Talen Energy stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the sale, the insider directly owned 5,734,970 shares of the company's stock, valued at approximately $1,697,780,518.80. The trade was a 3.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 388,530 shares of company stock worth $114,090,933. Insiders own 0.18% of the company's stock.
About Talen Energy
(
Free Report)
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.
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