Public Employees Retirement System of Ohio Acquires New Stake in Talen Energy Corporation $TLN

Key Points

• Public Employees Retirement System of Ohio acquired 12,844 shares of Talen Energy worth approximately $4.94 million during the second quarter. Hedge funds and other institutional investors collectively own 0.38% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $466.86. Recent targets range from $405 to $509.
• Talen Energy’s shares opened at $302.03, while the company’s latest quarterly results missed expectations, reporting a $2.00 loss per share versus the anticipated $3.21 profit and revenue below estimates.

Public Employees Retirement System of Ohio bought a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,844 shares of the utilities provider's stock, valued at approximately $4,935,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Advisory Services Network LLC bought a new position in shares of Talen Energy in the 3rd quarter worth approximately $35,000. Northwestern Mutual Wealth Management Co. grew its position in Talen Energy by 1,500.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider's stock valued at $36,000 after buying an additional 90 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Talen Energy during the second quarter valued at approximately $38,000. Silvant Capital Management LLC purchased a new stake in Talen Energy during the second quarter valued at approximately $42,000. Finally, Bessemer Group Inc. raised its position in Talen Energy by 404.0% in the first quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider's stock worth $41,000 after acquiring an additional 101 shares during the period. 0.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $509.00 price objective on shares of Talen Energy in a research note on Monday, August 10th. Wells Fargo & Company boosted their price target on shares of Talen Energy from $482.00 to $501.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Jefferies Financial Group decreased their price objective on Talen Energy from $453.00 to $422.00 and set a "hold" rating on the stock in a report on Monday, July 20th. Susquehanna set a $449.00 target price on Talen Energy in a research report on Friday, August 7th. Finally, Mizuho assumed coverage on shares of Talen Energy in a report on Monday, August 24th. They issued an "outperform" rating and a $405.00 target price for the company. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $466.86.

Insider Activity

In other news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the transaction, the director owned 2,606 shares in the company, valued at approximately $990,280. The trade was a 49.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.78% of the stock is owned by insiders.

Talen Energy Stock Up 2.8%

Shares of NASDAQ TLN opened at $302.03 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.55 and a debt-to-equity ratio of 5.82. Talen Energy Corporation has a 12-month low of $288.58 and a 12-month high of $451.28. The firm's 50-day moving average price is $350.76 and its 200-day moving average price is $354.82. The stock has a market capitalization of $14.47 billion, a price-to-earnings ratio of -72.43 and a beta of 1.84.

Talen Energy (NASDAQ:TLN - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) EPS for the quarter, missing the consensus estimate of $3.21 by ($5.21). Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%.The company had revenue of $747.00 million during the quarter, compared to analysts' expectations of $832.81 million. On average, equities research analysts anticipate that Talen Energy Corporation will post 21.99 EPS for the current fiscal year.

Talen Energy Profile

Talen Energy Inc is an independent power producer that develops and operates a diversified portfolio of thermal and renewable generation facilities across the United States. The company supplies wholesale electricity and related services to utilities, large industrial customers, and power marketers, participating actively in regional markets such as PJM Interconnection and the Electric Reliability Council of Texas (ERCOT). Talen's asset base comprises a mix of natural gas-fired, coal-fired and nuclear generation, supplemented by battery storage and other flexible resources designed to support the evolving needs of the grid.

Established in December 2015 through the combination of the competitive generation businesses previously held by two major utility groups, Talen Energy was structured as a standalone, publicly traded entity on the NASDAQ stock exchange (TLN).

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