Raymond James Financial Inc. Decreases Position in Talen Energy Corporation $TLN

Key Points

• Raymond James Financial Inc. reduced its holdings in Talen Energy Corporation by 36.6%, owning 44,705 shares worth approximately $8.93 million after selling 25,850 shares in the first quarter.
• Talen Energy's stock has fluctuated significantly, with a twelve-month low of $137.50 and a high of $394.25, currently trading at $378.92.
• The company reported earnings of $1.50 per share, significantly exceeding estimates, and had revenues of $630 million, surpassing analyst projections of $481.48 million.

Raymond James Financial Inc. decreased its stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 36.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,705 shares of the utilities provider's stock after selling 25,850 shares during the period. Raymond James Financial Inc. owned about 0.10% of Talen Energy worth $8,926,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Wedbush Securities Inc. increased its holdings in shares of Talen Energy by 4.4% in the 1st quarter. Wedbush Securities Inc. now owns 1,316 shares of the utilities provider's stock worth $263,000 after buying an additional 55 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Talen Energy by 42.4% in the 1st quarter. IFP Advisors Inc now owns 188 shares of the utilities provider's stock worth $38,000 after buying an additional 56 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its holdings in shares of Talen Energy by 2.7% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 3,394 shares of the utilities provider's stock worth $678,000 after buying an additional 88 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Talen Energy by 310.0% in the 1st quarter. Signaturefd LLC now owns 123 shares of the utilities provider's stock worth $25,000 after buying an additional 93 shares during the last quarter. Finally, LRI Investments LLC increased its holdings in shares of Talen Energy by 179.0% in the 1st quarter. LRI Investments LLC now owns 173 shares of the utilities provider's stock worth $35,000 after buying an additional 111 shares during the last quarter. Institutional investors own 0.38% of the company's stock.

Talen Energy Trading Up 0.9%

Shares of NASDAQ:TLN traded up $3.29 on Thursday, hitting $381.05. The company had a trading volume of 226,218 shares, compared to its average volume of 1,189,889. The firm's 50-day simple moving average is $338.64 and its two-hundred day simple moving average is $264.16. 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. The firm has a market capitalization of $17.41 billion, a price-to-earnings ratio of 108.03, a P/E/G ratio of 2.61 and a beta of 1.89.

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

Insider Activity at Talen Energy

In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $296.04, for a total value of $52,695,120.00. Following the sale, the insider directly owned 5,734,970 shares of the company's stock, valued at $1,697,780,518.80. The trade was a 3.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 388,530 shares of company stock valued at $114,090,933. Insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Melius assumed coverage on shares of Talen Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $427.00 target price on the stock. Raymond James Financial assumed coverage on shares of Talen Energy in a report on Friday, June 13th. They set an "outperform" rating and a $314.00 target price on the stock. Jefferies Financial Group increased their target price on shares of Talen Energy from $326.00 to $380.00 and gave the company a "buy" rating in a report on Friday, July 18th. Oppenheimer set a $315.00 target price on shares of Talen Energy and gave the company an "outperform" rating in a report on Friday, July 11th. Finally, UBS Group set a $431.00 target price on shares of Talen Energy and gave the company a "buy" rating in a report on Friday, July 25th. Sixteen investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $316.00.

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.