NewEdge Advisors LLC Sells 6,207 Shares of Talen Energy Corporation $TLN

Key Points

• NewEdge Advisors reduced its Talen Energy stake by 32.2%, selling 6,207 shares and retaining 13,052 shares valued at approximately $4.17 million.
• Talen Energy reported a quarterly loss of $2.00 per share and revenue of $747 million, missing analyst expectations of $3.21 EPS and $832.81 million in revenue.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $476.58, compared with the stock’s reported price of $365.07.

NewEdge Advisors LLC decreased its holdings in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 32.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,052 shares of the utilities provider's stock after selling 6,207 shares during the period. NewEdge Advisors LLC's holdings in Talen Energy were worth $4,167,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TLN. Fred Alger Management LLC boosted its position in Talen Energy by 8.4% during the fourth quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider's stock valued at $676,247,000 after buying an additional 140,345 shares during the period. Reaves W H & Co. Inc. grew its stake in shares of Talen Energy by 7.9% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider's stock valued at $570,393,000 after buying an additional 111,160 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Talen Energy by 35.6% in the fourth quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider's stock worth $540,287,000 after buying an additional 378,357 shares during the period. State Street Corp increased its holdings in shares of Talen Energy by 88.2% in the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider's stock worth $569,455,000 after buying an additional 627,467 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Talen Energy by 9.1% in the 4th quarter. Geode Capital Management LLC now owns 1,049,196 shares of the utilities provider's stock valued at $409,559,000 after acquiring an additional 87,784 shares during the last quarter. Institutional investors own 0.38% of the company's stock.

Talen Energy Stock Performance

Shares of NASDAQ:TLN opened at $365.07 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.55 and a debt-to-equity ratio of 5.82. The company has a 50-day moving average price of $372.32 and a 200-day moving average price of $358.30. The company has a market cap of $17.49 billion, a price-to-earnings ratio of -87.55 and a beta of 1.90. Talen Energy Corporation has a 12 month low of $301.45 and a 12 month high of $451.28.

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 (EPS) for the quarter, missing the consensus estimate of $3.21 by ($5.21). The business had revenue of $747.00 million during the quarter, compared to the consensus estimate of $832.81 million. Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%. As a group, equities analysts anticipate that Talen Energy Corporation will post 25.07 EPS for the current year.

Analysts Set New Price Targets

TLN has been the subject of several analyst reports. Morgan Stanley restated an "overweight" rating and set a $508.00 target price on shares of Talen Energy in a report on Wednesday, June 24th. Wells Fargo & Company lifted their price target on Talen Energy from $482.00 to $501.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Barclays lowered their price objective on Talen Energy from $411.00 to $408.00 and set an "overweight" rating for the company in a research report on Tuesday, July 28th. Zacks Research raised Talen Energy from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. Finally, Jefferies Financial Group cut their target price on shares of Talen Energy from $453.00 to $422.00 and set a "hold" rating on the stock in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $476.58.

Insider Buying and Selling at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the business's 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 transaction, the director directly owned 2,606 shares of the company's stock, valued at approximately $990,280. The trade was a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.78% of the company's stock.

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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