Ninepoint Partners LP Increases Stock Position in Talen Energy Corporation (NASDAQ:TLN)

Ninepoint Partners LP increased its position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,478 shares of the utilities provider's stock after acquiring an additional 779 shares during the quarter. Ninepoint Partners LP's holdings in Talen Energy were worth $1,493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Wedbush Securities Inc. boosted its holdings in Talen Energy by 4.4% in the 1st quarter. Wedbush Securities Inc. now owns 1,316 shares of the utilities provider's stock valued at $263,000 after purchasing an additional 55 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Talen Energy by 202.7% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 8,133 shares of the utilities provider's stock valued at $1,624,000 after acquiring an additional 5,446 shares during the last quarter. PFG Advisors grew its position in Talen Energy by 46.3% in the first quarter. PFG Advisors now owns 2,732 shares of the utilities provider's stock worth $545,000 after acquiring an additional 865 shares during the period. Kayne Anderson Capital Advisors LP lifted its stake in shares of Talen Energy by 15.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 25,673 shares of the utilities provider's stock valued at $5,126,000 after purchasing an additional 3,470 shares during the last quarter. Finally, Allianz Asset Management GmbH acquired a new position in shares of Talen Energy in the 1st quarter valued at $470,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Talen Energy Stock Up 2.2%

Talen Energy stock traded up $7.46 during midday trading on Friday, reaching $346.62. The company's stock had a trading volume of 1,641,643 shares, compared to its average volume of 1,436,838. Talen Energy Corporation has a fifty-two week low of $98.50 and a fifty-two week high of $352.77. The company has a market cap of $15.77 billion, a P/E ratio of 35.99, a P/E/G ratio of 8.00 and a beta of 1.85. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 2.52. The business has a 50-day simple moving average of $276.06 and a 200-day simple moving average of $236.39.

Talen Energy (NASDAQ:TLN - Get Free Report) last issued 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). Talen Energy had a return on equity of 11.47% and a net margin of 28.51%. The company had revenue of $390.00 million for the quarter, compared to analysts' expectations of $556.93 million. On average, research analysts expect that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Talen Energy

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of Talen Energy stock in a transaction on Friday, June 27th. The shares were sold at an average price of $296.04, for a total value of $52,695,120.00. Following the transaction, the insider directly owned 5,734,970 shares in the company, valued at approximately $1,697,780,518.80. The trade was a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 388,530 shares of company stock valued at $114,090,933. 0.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TLN shares. UBS Group boosted their price objective on shares of Talen Energy from $399.00 to $431.00 and gave the company a "buy" rating in a report on Friday. Raymond James Financial assumed coverage on shares of Talen Energy in a research note on Friday, June 13th. They issued an "outperform" rating and a $314.00 price target on the stock. Jefferies Financial Group increased their price objective on shares of Talen Energy from $326.00 to $380.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Oppenheimer upped their price target on Talen Energy from $250.00 to $315.00 and gave the stock an "outperform" rating in a research note on Friday, July 11th. Finally, Morgan Stanley lifted their price objective on Talen Energy from $300.00 to $330.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Talen Energy currently has an average rating of "Moderate Buy" and an average price target of $292.58.

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.