National Bank of Canada FI Acquires New Position in Talen Energy Corporation $TLN

Key Points

• National Bank of Canada FI acquired a new stake in Talen Energy Corporation, purchasing 2,262 shares valued at approximately $451,000 in the first quarter.
• Major shareholder Rubric Capital Management Lp sold 178,000 shares of Talen Energy recently, resulting in a decrease of 3.01% in their ownership position.
• Analysts have increased their target prices for Talen Energy, with Jefferies lifting it from $326.00 to $380.00 and Barclays raising it to $418.00, indicating positive market sentiment.

National Bank of Canada FI acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,262 shares of the utilities provider's stock, valued at approximately $451,000.

Other hedge funds have also made changes to their positions in the company. Signaturefd LLC boosted its holdings in Talen Energy by 310.0% in the first quarter. Signaturefd LLC now owns 123 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 93 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Talen Energy in the first quarter valued at $35,000. LRI Investments LLC boosted its holdings in Talen Energy by 179.0% in the first quarter. LRI Investments LLC now owns 173 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 111 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in Talen Energy in the first quarter valued at $35,000. Finally, IFP Advisors Inc boosted its holdings in Talen Energy by 42.4% in the first quarter. IFP Advisors Inc now owns 188 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 56 shares during the last quarter. Institutional investors and hedge funds own 0.38% of the company's stock.

Insider Activity

In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of Talen Energy stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 388,530 shares of company stock worth $114,090,933 over the last 90 days.

Wall Street Analysts Forecast Growth

TLN has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on Talen Energy from $300.00 to $330.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Raymond James Financial initiated coverage on Talen Energy in a report on Friday, June 13th. They issued an "outperform" rating and a $314.00 target price on the stock. UBS Group set a $431.00 price objective on Talen Energy and gave the stock a "buy" rating in a research note on Friday, July 25th. Wall Street Zen upgraded Talen Energy from a "sell" rating to a "hold" rating in a research note on Monday, August 11th. Finally, Susquehanna restated an "overweight" rating on shares of Talen Energy in a research note on Thursday, June 12th. Sixteen equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Talen Energy presently has a consensus rating of "Buy" and a consensus target price of $316.00.

Talen Energy Stock Down 2.3%

Shares of NASDAQ TLN traded down $8.36 during midday trading on Wednesday, reaching $359.80. 478,746 shares of the company's stock were exchanged, compared to its average volume of 1,165,828. Talen Energy Corporation has a 52-week low of $136.56 and a 52-week high of $394.07. The stock has a market capitalization of $16.44 billion, a PE ratio of 101.71, a price-to-earnings-growth ratio of 2.77 and a beta of 1.90. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.34 and a current ratio of 1.84. The business's fifty day moving average price is $319.60 and its two-hundred day moving average price is $254.06.

Talen Energy (NASDAQ:TLN - Get Free Report) last announced its earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.13) by $2.63. Talen Energy had a return on equity of 17.81% and a net margin of 8.75%.The business had revenue of $630.00 million for the quarter, compared to analyst estimates of $481.48 million. Analysts forecast that Talen Energy Corporation will post 15.94 EPS for the current year.

About Talen Energy

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.