Quarry LP Invests $769,000 in Talen Energy Corporation $TLN

Key Points

• Quarry LP made a new investment in Talen Energy Corporation, purchasing 3,853 shares valued at approximately $769,000.
• Several hedge funds increased their positions in Talen Energy, with Russell Investments Group Ltd. raising its holdings by 75.8% and Principal Financial Group Inc. increasing by 114.9% in the first quarter.
• Analysts consistently rate Talen Energy as a "buy," with the average price target now set at $316.00, reflecting optimism about the company's growth potential.

Quarry LP bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,853 shares of the utilities provider's stock, valued at approximately $769,000.

Several other large investors have also recently made changes to their positions in the stock. Goodlander Investment Management LLC purchased a new stake in Talen Energy in the first quarter valued at approximately $7,987,000. Baird Financial Group Inc. purchased a new stake in shares of Talen Energy in the 1st quarter valued at $2,180,000. WPG Advisers LLC acquired a new position in Talen Energy during the 1st quarter worth about $51,000. Situational Awareness LP boosted its holdings in Talen Energy by 6.9% during the 1st quarter. Situational Awareness LP now owns 148,395 shares of the utilities provider's stock valued at $29,630,000 after acquiring an additional 9,517 shares during the period. Finally, Itau Unibanco Holding S.A. boosted its holdings in Talen Energy by 147.7% during the 1st quarter. Itau Unibanco Holding S.A. now owns 5,200 shares of the utilities provider's stock valued at $1,038,000 after acquiring an additional 3,101 shares during the period. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Talen Energy

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

Analyst Ratings Changes

Several analysts have recently issued reports on the company. UBS Group set a $431.00 price objective on Talen Energy and gave the company a "buy" rating in a research note on Friday, July 25th. Melius began coverage on Talen Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $427.00 price objective for the company. Wall Street Zen upgraded shares of Talen Energy from a "sell" rating to a "hold" rating in a research note on Monday, August 11th. Oppenheimer set a $315.00 price target on shares of Talen Energy and gave the stock an "outperform" rating in a report on Friday, July 11th. Finally, Jefferies Financial Group lifted their price objective on shares of Talen Energy from $326.00 to $380.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Sixteen analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $316.00.

Talen Energy Stock Performance

TLN traded up $2.61 during trading on Wednesday, hitting $377.76. 527,094 shares of the stock were exchanged, compared to its average volume of 1,226,184. The stock has a fifty day moving average price of $338.64 and a two-hundred day moving average price of $264.16. The firm has a market capitalization of $17.26 billion, a P/E ratio of 65.67, a PEG ratio of 2.61 and a beta of 1.89. Talen Energy Corporation has a 1-year low of $137.55 and a 1-year high of $394.25. The company has a quick ratio of 1.34, a current ratio of 1.84 and a debt-to-equity ratio of 2.39.

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

Talen Energy Company 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.