3,522 Shares in Talen Energy Corporation (NASDAQ:TLN) Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. bought a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,522 shares of the utilities provider's stock, valued at approximately $703,000.

Several other hedge funds have also recently bought and sold shares of the business. William Blair Investment Management LLC acquired a new position in shares of Talen Energy during the fourth quarter valued at about $239,984,000. Fred Alger Management LLC increased its holdings in Talen Energy by 152.9% during the 4th quarter. Fred Alger Management LLC now owns 954,747 shares of the utilities provider's stock valued at $192,353,000 after purchasing an additional 577,257 shares in the last quarter. Pictet Asset Management Holding SA bought a new position in shares of Talen Energy in the fourth quarter valued at about $101,931,000. Clearbridge Investments LLC bought a new position in shares of Talen Energy in the fourth quarter worth about $88,065,000. Finally, Vanguard Group Inc. lifted its holdings 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 worth $964,302,000 after buying an additional 256,414 shares in the last quarter. 0.38% of the stock is owned by institutional investors and hedge funds.

Talen Energy Stock Performance

TLN stock traded down $10.78 during mid-day trading on Tuesday, hitting $279.99. 1,277,323 shares of the company were exchanged, compared to its average volume of 1,164,876. Talen Energy Corporation has a 1-year low of $98.50 and a 1-year high of $301.70. The stock has a market capitalization of $12.74 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 7.15 and a beta of 1.79. The business has a 50 day simple moving average of $249.97 and a 200-day simple moving average of $224.94. The company has a current ratio of 1.62, a quick ratio of 1.20 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). Talen Energy had a return on equity of 11.47% and a net margin of 28.51%. The firm had revenue of $390.00 million for the quarter, compared to analyst estimates of $556.93 million. On average, equities analysts forecast that Talen Energy Corporation will post 15.94 earnings per share for the current year.

Wall Street Analyst Weigh In

TLN has been the topic of a number of research reports. Daiwa Capital Markets set a $200.00 target price on shares of Talen Energy in a research report on Wednesday, March 5th. 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 for the company. Morgan Stanley started coverage on shares of Talen Energy in a research report on Wednesday, March 12th. They issued an "overweight" rating and a $243.00 price objective on the stock. UBS Group raised their price target on shares of Talen Energy from $296.00 to $366.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Barclays lowered their target price on Talen Energy from $293.00 to $282.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Talen Energy currently has a consensus rating of "Moderate Buy" and an average price target of $255.25.

Insider Buying and Selling at Talen Energy

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the company'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 transaction, the insider directly owned 5,734,970 shares in the company, valued at approximately $1,697,780,518.80. This represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 388,530 shares of company stock worth $114,090,933 over the last three months.

Talen Energy Profile

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.