Harvest Fund Management Co. Ltd Sells 1,767 Shares of Talen Energy Corporation (NASDAQ:TLN)

Key Points

• Harvest Fund Management Co. Ltd has significantly reduced its holdings in Talen Energy Corporation by 73.9%, now owning only 624 shares valued at approximately $124,000 as of the latest reporting period.
• Several other institutional investors have increased their positions in Talen Energy, with Fred Alger Management LLC raising its holdings by 152.9% during the fourth quarter, now holding 954,747 shares worth about $192.35 million.
• Talen Energy reported an EPS of $0.82 for the last quarter, falling short of analyst expectations of $1.17, alongside a revenue of $390 million, compared to estimates of $556.93 million.

Harvest Fund Management Co. Ltd cut its position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 73.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 624 shares of the utilities provider's stock after selling 1,767 shares during the period. Harvest Fund Management Co. Ltd's holdings in Talen Energy were worth $124,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TLN. Wedbush Securities Inc. grew its position in Talen Energy by 4.4% in the first quarter. Wedbush Securities Inc. now owns 1,316 shares of the utilities provider's stock worth $263,000 after acquiring an additional 55 shares in the last quarter. IFP Advisors Inc lifted its stake 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 valued at $38,000 after purchasing an additional 56 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in Talen Energy by 2.7% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 3,394 shares of the utilities provider's stock worth $678,000 after purchasing an additional 88 shares in the last quarter. Signaturefd LLC boosted its holdings in Talen Energy by 310.0% in the first quarter. Signaturefd LLC now owns 123 shares of the utilities provider's stock worth $25,000 after purchasing an additional 93 shares in the last quarter. Finally, LRI Investments LLC increased its position in Talen Energy by 179.0% during the first 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. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Talen Energy

In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the firm's stock in a transaction dated 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 directly owned 5,734,970 shares of the company's stock, valued at approximately $1,697,780,518.80. This trade represents a 3.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 388,530 shares of company stock valued at $114,090,933. Insiders own 0.18% of the company's stock.

Talen Energy Stock Performance

TLN traded up $0.44 on Friday, hitting $378.01. 1,548,703 shares of the stock traded hands, compared to its average volume of 1,306,608. The business has a fifty day moving average price of $289.07 and a two-hundred day moving average price of $241.51. The company has a current ratio of 1.62, a quick ratio of 1.20 and a debt-to-equity ratio of 2.52. The firm has a market capitalization of $17.20 billion, a PE ratio of 39.25, a P/E/G ratio of 3.14 and a beta of 1.90. Talen Energy Corporation has a 52 week low of $98.50 and a 52 week high of $384.92.

Talen Energy (NASDAQ:TLN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.17 by ($0.35). The firm had revenue of $390.00 million for the quarter, compared to the consensus estimate of $556.93 million. Talen Energy had a net margin of 28.51% and a return on equity of 11.47%. On average, research analysts predict that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TLN. Oppenheimer set a $315.00 price target on Talen Energy and gave the stock an "outperform" rating in a research note on Friday, July 11th. Barclays upped their target price on Talen Energy from $269.00 to $359.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Morgan Stanley lifted their price target on shares of Talen Energy from $300.00 to $330.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Wall Street Zen upgraded shares of Talen Energy from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Jefferies Financial Group raised their target price on shares of Talen Energy from $326.00 to $380.00 and gave the company a "buy" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $292.58.

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.