Talen Energy Corporation $TLN Shares Acquired by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System dramatically increased its Talen Energy stake by purchasing 18.19 million shares, bringing its holdings to 18.23 million shares, or approximately 38.06% of the company.
• Analysts remain generally positive, with a consensus rating of “Moderate Buy” and an average price target of $459.17; recent targets ranged from $405 to $503.
• Talen Energy shares opened at $319.67 after falling 1.9%, while the company’s latest quarterly results missed expectations, reporting a $2.00 per-share loss versus the anticipated $3.21 per-share profit and revenue below estimates.

California State Teachers Retirement System boosted its position in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 39,750.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,232,753 shares of the utilities provider's stock after purchasing an additional 18,187,000 shares during the quarter. California State Teachers Retirement System owned about 38.06% of Talen Energy worth $7,006,118,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Advisory Group L.L.C. grew its position in Talen Energy by 4.9% in the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 3,761 shares of the utilities provider's stock worth $1,445,000 after purchasing an additional 175 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in shares of Talen Energy by 459.1% in the second quarter. TD Waterhouse Canada Inc. now owns 246 shares of the utilities provider's stock valued at $89,000 after purchasing an additional 202 shares during the period. Concurrent Investment Advisors LLC raised its holdings in shares of Talen Energy by 83.9% during the second quarter. Concurrent Investment Advisors LLC now owns 2,289 shares of the utilities provider's stock valued at $880,000 after buying an additional 1,044 shares during the last quarter. Continuum Advisory LLC bought a new stake in shares of Talen Energy during the second quarter valued at approximately $33,000. Finally, Maple Rock Capital Partners Inc. acquired a new position in shares of Talen Energy during the second quarter worth approximately $30,856,000. 0.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TLN. Mizuho began coverage on Talen Energy in a report on Monday, August 24th. They issued an "outperform" rating and a $405.00 price objective for the company. Wells Fargo & Company lifted their target price on Talen Energy from $482.00 to $501.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Morgan Stanley reduced their price target on Talen Energy from $508.00 to $503.00 and set an "overweight" rating for the company in a research report on Friday, August 21st. Scotiabank boosted their price target on Talen Energy from $463.00 to $470.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 15th. Finally, Susquehanna set a $449.00 price target on Talen Energy in a research note on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $459.17.

Insider Activity

In other news, Director Gizman Abbas sold 2,600 shares of Talen Energy stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the transaction, the director owned 2,606 shares of the company's stock, valued at $990,280. The trade was a 49.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.78% of the stock is owned by corporate insiders.

Talen Energy Trading Down 1.9%

Shares of TLN stock opened at $319.67 on Thursday. The stock has a 50-day simple moving average of $343.15 and a 200 day simple moving average of $352.59. The stock has a market capitalization of $15.32 billion, a P/E ratio of -76.66 and a beta of 1.84. Talen Energy Corporation has a fifty-two week low of $288.58 and a fifty-two week high of $451.28. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82.

Talen Energy (NASDAQ:TLN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) EPS for the quarter, missing the consensus estimate of $3.21 by ($5.21). Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%.The business had revenue of $747.00 million during the quarter, compared to the consensus estimate of $832.81 million. On average, sell-side analysts expect that Talen Energy Corporation will post 21.99 earnings per share for the current fiscal year.

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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