PDT Partners LLC Takes Position in Talen Energy Corporation $TLN

Key Points

• PDT Partners LLC acquired a new position in Talen Energy Corporation, purchasing 12,494 shares valued at approximately $2,495,000.
• Several institutional investors have increased their stakes in Talen Energy, with Apis Capital Advisors raising its position by 6.2% and Steamboat Capital Partners increasing theirs by 73.4%.
• Wall Street analysts have a consensus rating of "Buy" for Talen Energy, with target prices ranging from $314.00 to $427.00.

PDT Partners LLC bought a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 12,494 shares of the utilities provider's stock, valued at approximately $2,495,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in Talen Energy by 7,285.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 517 shares of the utilities provider's stock worth $104,000 after acquiring an additional 510 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Talen Energy by 23.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,797 shares of the utilities provider's stock worth $3,183,000 after purchasing an additional 3,000 shares during the period. Northern Trust Corp raised its holdings in shares of Talen Energy by 7.8% in the 4th quarter. Northern Trust Corp now owns 118,949 shares of the utilities provider's stock worth $23,965,000 after purchasing an additional 8,626 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Talen Energy by 6.1% in the 4th quarter. Ameriprise Financial Inc. now owns 4,518 shares of the utilities provider's stock worth $910,000 after purchasing an additional 261 shares during the period. Finally, Carronade Capital Management LP raised its holdings in shares of Talen Energy by 12.0% in the 4th quarter. Carronade Capital Management LP now owns 447,886 shares of the utilities provider's stock worth $90,236,000 after purchasing an additional 47,886 shares during the period. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on TLN. Oppenheimer set a $315.00 target price on Talen Energy and gave the company an "outperform" rating in a report on Friday, July 11th. Wall Street Zen upgraded Talen Energy from a "sell" rating to a "hold" rating in a report on Monday, August 11th. Melius began coverage on Talen Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $427.00 target price on the stock. Barclays raised their target price on Talen Energy from $353.00 to $418.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Finally, Morgan Stanley raised their target price on Talen Energy from $300.00 to $330.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Sixteen research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $316.00.

Insider Activity

In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of Talen Energy stock in a transaction on Friday, June 27th. The stock was sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the transaction, the insider 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 filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 388,530 shares of company stock valued at $114,090,933. Insiders own 0.18% of the company's stock.

Talen Energy Stock Performance

NASDAQ TLN traded up $8.75 during trading hours on Friday, reaching $389.19. The company's stock had a trading volume of 758,096 shares, compared to its average volume of 1,189,185. The stock has a market cap of $17.78 billion, a PE ratio of 110.25, a PEG ratio of 2.60 and a beta of 1.89. Talen Energy Corporation has a 52 week low of $137.55 and a 52 week high of $394.25. The company has a current ratio of 1.84, a quick ratio of 1.34 and a debt-to-equity ratio of 2.39. The business has a 50-day simple moving average of $340.42 and a 200 day simple moving average of $265.12.

Talen Energy (NASDAQ:TLN - Get Free Report) last announced its earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of ($1.13) by $2.63. The firm had revenue of $630.00 million for the quarter, compared to the consensus estimate of $481.48 million. Talen Energy had a return on equity of 17.81% and a net margin of 8.75%. Equities research analysts predict that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.

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.