NewEdge Advisors LLC Acquires 5,274 Shares of Talen Energy Corporation $TLN

Key Points

• NewEdge Advisors increased its Talen Energy stake by 40.4% in the second quarter, adding 5,274 shares for a total of 18,326 shares valued at approximately $7.04 million. Several other institutional investors also initiated or expanded positions.
• Analyst sentiment remains broadly positive, with eight Buy ratings, three Holds, and one Sell. Talen has a consensus rating of “Moderate Buy” and an average price target of $459.17.
• Talen reported a quarterly loss of $2.00 per share, missing the $3.21 consensus estimate, while revenue of $747 million also fell short of expectations. The stock opened at $312.74, well below its 52-week high of $451.28.

NewEdge Advisors LLC boosted its stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 40.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,326 shares of the utilities provider's stock after acquiring an additional 5,274 shares during the quarter. NewEdge Advisors LLC's holdings in Talen Energy were worth $7,042,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. purchased a new stake in Talen Energy in the 2nd quarter worth about $4,132,000. Ninepoint Partners LP bought a new stake in Talen Energy in the second quarter worth about $1,694,000. 180 GPS Investments IC Ltd purchased a new position in shares of Talen Energy during the second quarter valued at approximately $8,636,000. Diversify Advisory Services LLC purchased a new position in shares of Talen Energy during the second quarter valued at approximately $12,228,000. Finally, Global Retirement Partners LLC bought a new position in shares of Talen Energy during the second quarter valued at approximately $1,213,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TLN shares. Wall Street Zen lowered Talen Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Weiss Ratings downgraded Talen Energy from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 18th. Mizuho started coverage on Talen Energy in a research note on Monday, August 24th. They issued an "outperform" rating and a $405.00 target price on the stock. Scotiabank lifted their target price on Talen Energy from $463.00 to $470.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 15th. Finally, New Street Research set a $405.00 target price on shares of Talen Energy in a research note on Monday, August 24th. Eight 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $459.17.

Talen Energy Stock Performance

NASDAQ TLN opened at $312.74 on Monday. The company has a market capitalization of $14.98 billion, a price-to-earnings ratio of -75.00 and a beta of 1.84. Talen Energy Corporation has a one year low of $288.58 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 company's 50-day simple moving average is $341.05 and its two-hundred day simple moving average is $351.70.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its 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 company 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 EPS for the current fiscal year.

Talen Energy Profile

Talen Energy Corporation is an independent power producer that owns and operates electricity-generating facilities in the United States. Its portfolio includes nuclear, natural gas, and other generation assets, which supply electricity to wholesale markets and customers across several regions.

The company's principal business activities include generating and selling electricity, capacity, and ancillary services. Talen's nuclear operations include the Susquehanna Steam Electric Station in Pennsylvania, while its broader portfolio serves markets primarily within the Eastern and Southern United States, including the PJM Interconnection.

Talen Energy was formed in 2015 through the combination of RRI Energy and power-generation assets owned by affiliates of Riverstone Holdings.

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