OneDigital Investment Advisors LLC reduced its position in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 36.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,379 shares of the utilities provider's stock after selling 1,393 shares during the period. OneDigital Investment Advisors LLC's holdings in Talen Energy were worth $475,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TLN. William Blair Investment Management LLC acquired a new position in shares of Talen Energy in the 4th quarter worth approximately $239,984,000. Fred Alger Management LLC boosted its stake in shares of Talen Energy by 152.9% during the 4th quarter. Fred Alger Management LLC now owns 954,747 shares of the utilities provider's stock worth $192,353,000 after acquiring an additional 577,257 shares in the last quarter. Pictet Asset Management Holding SA bought a new stake in Talen Energy during the fourth quarter worth approximately $101,931,000. Clearbridge Investments LLC bought a new stake in Talen Energy during the fourth quarter valued at about $88,065,000. Finally, Vanguard Group Inc. boosted its holdings in Talen Energy by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider's stock valued at $964,302,000 after purchasing an additional 256,414 shares during the period. 0.38% of the stock is owned by hedge funds and other institutional investors.
Talen Energy Stock Performance
Shares of TLN traded up $5.79 during trading hours on Monday, hitting $281.96. The company had a trading volume of 960,901 shares, compared to its average volume of 1,086,993. The firm has a market cap of $12.83 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 6.65 and a beta of 1.85. The business has a fifty day moving average of $262.04 and a 200-day moving average of $229.81. Talen Energy Corporation has a 12 month low of $98.50 and a 12 month high of $301.70. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 2.52.
Talen Energy (NASDAQ:TLN - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $390.00 million during the quarter, compared to the consensus estimate of $556.93 million. Talen Energy had a net margin of 28.51% and a return on equity of 11.47%. Equities analysts anticipate that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the transaction, the insider directly owned 5,734,970 shares of the company's stock, valued at approximately $1,697,780,518.80. This trade represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 388,530 shares of company stock worth $114,090,933.
Analyst Ratings Changes
TLN has been the subject of several research reports. Oppenheimer set a $315.00 target price on Talen Energy and gave the stock an "outperform" rating in a research report on Friday. UBS Group upped their price objective on shares of Talen Energy from $296.00 to $366.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Raymond James Financial initiated coverage on Talen Energy in a report on Friday, June 13th. They issued an "outperform" rating and a $314.00 price target on the stock. JPMorgan Chase & Co. reduced their target price on Talen Energy from $295.00 to $265.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Finally, Susquehanna reiterated an "overweight" rating on shares of Talen Energy in a report on Thursday, June 12th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Talen Energy has an average rating of "Moderate Buy" and an average target price of $260.67.
Check Out Our Latest Analysis on TLN
About Talen Energy
(
Free Report)
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.
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