Spirit of America Management Corp NY Grows Stake in Talen Energy Corporation $TLN

Key Points

• Spirit of America Management Corp NY increased its stake in Talen Energy Corporation by 21.3% during the second quarter, holding a total of 6,550 shares valued at approximately $1,905,000.
• Several other institutional investors, including Janney Montgomery Scott and Envestnet Portfolio Solutions, have also raised their positions in Talen Energy, highlighting growing confidence in the utility provider.
• Talen Energy recently reported earnings of $1.50 per share, significantly exceeding analysts' expectations, and has an average target price set at $376.85 according to research analysts.

Spirit of America Management Corp NY grew its holdings in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 21.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,550 shares of the utilities provider's stock after buying an additional 1,150 shares during the quarter. Spirit of America Management Corp NY's holdings in Talen Energy were worth $1,905,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TLN. Janney Montgomery Scott LLC lifted its holdings in Talen Energy by 15.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,810 shares of the utilities provider's stock worth $2,957,000 after buying an additional 1,951 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in Talen Energy in the 1st quarter worth approximately $3,306,000. Avior Wealth Management LLC lifted its holdings in Talen Energy by 15.6% in the 1st quarter. Avior Wealth Management LLC now owns 1,484 shares of the utilities provider's stock worth $296,000 after buying an additional 200 shares during the period. Congress Park Capital LLC purchased a new stake in Talen Energy in the 1st quarter worth approximately $250,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Talen Energy by 10.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,205 shares of the utilities provider's stock worth $2,237,000 after buying an additional 1,055 shares during the period. Hedge funds and other institutional investors own 0.38% of the company's stock.

Analysts Set New Price Targets

TLN has been the subject of several research analyst reports. Zacks Research cut Talen Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 18th. Morgan Stanley increased their target price on Talen Energy from $330.00 to $430.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 10th. Scotiabank initiated coverage on Talen Energy in a research report on Monday, September 22nd. They issued a "sector perform" rating and a $418.00 target price for the company. Melius initiated coverage on Talen Energy in a research report on Wednesday, August 20th. They issued a "buy" rating and a $427.00 target price for the company. Finally, UBS Group set a $431.00 target price on Talen Energy and gave the stock a "buy" rating in a research report on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Talen Energy currently has an average rating of "Moderate Buy" and a consensus target price of $376.85.

Talen Energy Stock Down 2.8%

Shares of NASDAQ:TLN opened at $406.45 on Friday. The stock has a fifty day simple moving average of $400.59 and a two-hundred day simple moving average of $310.24. The stock has a market capitalization of $18.57 billion, a price-to-earnings ratio of 115.14, a PEG ratio of 2.30 and a beta of 1.88. Talen Energy Corporation has a 12-month low of $158.08 and a 12-month high of $451.28. The company has a current ratio of 1.84, a quick ratio of 1.34 and a debt-to-equity ratio of 2.39.

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

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.

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