Talen Energy Corporation (NASDAQ:TLN) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its position in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 10.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,205 shares of the utilities provider's stock after purchasing an additional 1,055 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Talen Energy were worth $2,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TLN. Vanguard Group Inc. raised its stake in Talen Energy by 5.7% during 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. Rhumbline Advisers grew its holdings in Talen Energy by 37.3% during the 4th quarter. Rhumbline Advisers now owns 5,530 shares of the utilities provider's stock valued at $1,114,000 after buying an additional 1,503 shares in the last quarter. Truist Financial Corp purchased a new stake in Talen Energy during the 4th quarter valued at approximately $577,000. Sei Investments Co. raised its position in shares of Talen Energy by 109.4% during the fourth quarter. Sei Investments Co. now owns 59,686 shares of the utilities provider's stock valued at $12,024,000 after buying an additional 31,180 shares during the last quarter. Finally, Petra Financial Advisors Inc. purchased a new position in shares of Talen Energy in the fourth quarter worth $565,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Trading Down 2.4%

Shares of Talen Energy stock traded down $7.11 during trading on Monday, hitting $290.77. The stock had a trading volume of 813,835 shares, compared to its average volume of 1,093,202. Talen Energy Corporation has a 12 month low of $98.50 and a 12 month high of $301.70. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.62 and a quick ratio of 1.20. The firm's fifty day simple moving average is $249.97 and its 200-day simple moving average is $224.94. The stock has a market cap of $13.23 billion, a PE ratio of 30.19, a PEG ratio of 7.15 and a beta of 1.79.

Talen Energy (NASDAQ:TLN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.35). The firm had revenue of $390.00 million during the quarter, compared to the consensus estimate of $556.93 million. Talen Energy had a return on equity of 11.47% and a net margin of 28.51%. As a group, sell-side analysts expect that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the business's stock in a transaction dated 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 completion of 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 388,530 shares of company stock worth $114,090,933 over the last 90 days.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Susquehanna restated an "overweight" rating on shares of Talen Energy in a research report on Thursday, June 12th. Wall Street Zen upgraded Talen Energy from a "sell" rating to a "hold" rating in a report on Monday. Morgan Stanley started coverage on Talen Energy in a research note on Wednesday, March 12th. They issued an "overweight" rating and a $243.00 price objective on the stock. UBS Group upped their price objective on Talen Energy from $296.00 to $366.00 and gave the stock a "buy" rating in a report on Friday. Finally, Barclays cut their target price on shares of Talen Energy from $293.00 to $282.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Talen Energy has an average rating of "Moderate Buy" and a consensus target price of $255.25.

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.