State of Wyoming Takes Position in Talen Energy Corporation $TLN

Key Points

• Wyoming acquired a new Talen Energy position of 5,731 shares worth approximately $2.2 million in the second quarter, while several major institutional investors also increased their holdings.
• Talen Energy reported a weaker-than-expected quarter, posting a $2.00 loss per share versus analysts’ expected $3.21 profit and revenue of $747 million, below the $832.81 million consensus estimate.
• Despite the earnings miss and an insider share sale, analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $476.58 versus the stock’s recent price of $362.74.

State of Wyoming acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,731 shares of the utilities provider's stock, valued at approximately $2,202,000.

Several other hedge funds have also modified their holdings of the stock. Fred Alger Management LLC raised its stake in Talen Energy by 8.4% during the fourth quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider's stock worth $676,247,000 after purchasing an additional 140,345 shares during the period. Reaves W H & Co. Inc. grew its stake in shares of Talen Energy by 7.9% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider's stock valued at $570,393,000 after buying an additional 111,160 shares during the period. Invesco Ltd. grew its stake in shares of Talen Energy by 35.6% during the 4th quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider's stock valued at $540,287,000 after buying an additional 378,357 shares during the period. State Street Corp increased its holdings in shares of Talen Energy by 88.2% during the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider's stock worth $569,455,000 after buying an additional 627,467 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Talen Energy by 9.1% during the 4th quarter. Geode Capital Management LLC now owns 1,049,196 shares of the utilities provider's stock worth $409,559,000 after buying an additional 87,784 shares during the last quarter. 0.38% of the stock is owned by institutional investors and hedge funds.

Talen Energy Stock Up 1.2%

Shares of NASDAQ:TLN opened at $362.74 on Friday. The firm has a market cap of $17.38 billion, a PE ratio of -86.99 and a beta of 1.90. The company has a fifty day simple moving average of $371.89 and a 200 day simple moving average of $358.27. 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 $301.45 and a 12-month high of $451.28.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) EPS for the quarter, missing analysts' consensus estimates of $3.21 by ($5.21). The company had revenue of $747.00 million for the quarter, compared to the consensus estimate of $832.81 million. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. On average, equities research analysts anticipate that Talen Energy Corporation will post 25.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TLN shares. Morgan Stanley reaffirmed an "overweight" rating and issued a $508.00 target price on shares of Talen Energy in a research report on Wednesday, June 24th. Wall Street Zen downgraded Talen Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Scotiabank upped their price target on Talen Energy from $463.00 to $470.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 15th. Wells Fargo & Company raised their price objective on Talen Energy from $482.00 to $501.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $476.58.

Insider Activity

In other news, Director Gizman I. Abbas sold 2,600 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the sale, the director owned 2,606 shares in the company, valued at approximately $990,280. This represents a 49.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.78% of the company's stock.

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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