Ninepoint Partners LP Buys New Shares in Talen Energy Corporation $TLN

Key Points

• Ninepoint Partners acquired 4,409 Talen Energy shares during the second quarter, valued at approximately $1.694 million. Other institutional investors, including UBS Asset Management and AQR Capital Management, also increased or initiated positions.
• Talen Energy’s shares opened at $316.99, well below their 52-week high of $451.28. The company reported a quarterly loss of $2.00 per share and revenue of $747 million, missing analysts’ estimates for both earnings and revenue.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $477.58, although recent ratings ranged from “sell” to “strong buy.”

Ninepoint Partners LP acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,409 shares of the utilities provider's stock, valued at approximately $1,694,000.

Other hedge funds have also modified their holdings of the company. Amundi acquired a new position in shares of Talen Energy in the 1st quarter valued at $299,000. AQR Capital Management LLC acquired a new stake in Talen Energy during the 1st quarter worth about $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Talen Energy by 11.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider's stock worth $1,454,000 after buying an additional 761 shares during the period. NewEdge Advisors LLC lifted its stake in Talen Energy by 17,400.0% during the first quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider's stock valued at $175,000 after buying an additional 870 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Talen Energy by 15.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider's stock valued at $9,794,000 after buying an additional 6,498 shares in the last quarter. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Price Performance

NASDAQ TLN opened at $316.99 on Friday. The company has a debt-to-equity ratio of 5.82, a current ratio of 0.78 and a quick ratio of 0.55. The firm has a market capitalization of $15.19 billion, a price-to-earnings ratio of -76.02 and a beta of 1.90. The company has a 50 day simple moving average of $370.07 and a 200-day simple moving average of $357.47. Talen Energy Corporation has a 52-week low of $301.45 and a 52-week high of $451.28.

Talen Energy (NASDAQ:TLN - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $747.00 million for the quarter, compared to analysts' expectations of $832.81 million. Equities research analysts predict that Talen Energy Corporation will post 25.07 earnings per share for the current fiscal year.

Insider Activity at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the transaction, the director directly owned 2,606 shares of the company's stock, valued at approximately $990,280. This represents a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.78% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Scotiabank raised their price objective on shares of Talen Energy from $463.00 to $470.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 15th. Wall Street Zen downgraded shares of Talen Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Zacks Research upgraded Talen Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 29th. Weiss Ratings cut Talen Energy from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $509.00 price target on shares of Talen Energy in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $477.58.

Talen Energy 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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