Talen Energy Corporation $TLN Shares Bought by American Century Companies Inc.

Key Points

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American Century Companies Inc. increased its stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 39.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 399,604 shares of the utilities provider's stock after buying an additional 113,995 shares during the quarter. American Century Companies Inc. owned about 0.88% of Talen Energy worth $79,789,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Lone Pine Capital LLC grew its stake in shares of Talen Energy by 27.2% in the fourth quarter. Lone Pine Capital LLC now owns 1,089,380 shares of the utilities provider's stock valued at $219,477,000 after buying an additional 233,165 shares in the last quarter. Fred Alger Management LLC grew its stake in Talen Energy by 152.9% during the 4th quarter. Fred Alger Management LLC now owns 954,747 shares of the utilities provider's stock valued at $192,353,000 after purchasing an additional 577,257 shares in the last quarter. Carronade Capital Management LP grew its stake in Talen Energy by 12.0% during the 4th quarter. Carronade Capital Management LP now owns 447,886 shares of the utilities provider's stock valued at $90,236,000 after purchasing an additional 47,886 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in Talen Energy during the 4th quarter valued at approximately $48,333,000. Finally, Bank of New York Mellon Corp grew its stake in Talen Energy by 37.4% during the 1st quarter. Bank of New York Mellon Corp now owns 133,533 shares of the utilities provider's stock valued at $26,663,000 after purchasing an additional 36,325 shares in the last quarter. Institutional investors and hedge funds own 0.38% of the company's stock.

Insiders Place Their Bets

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of Talen Energy stock in a transaction on Friday, June 27th. The stock was sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the sale, the insider 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 388,530 shares of company stock worth $114,090,933. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TLN. UBS Group set a $431.00 price objective on Talen Energy and gave the company a "buy" rating in a research note on Friday, July 25th. Melius Research began coverage on Talen Energy in a research note on Wednesday. They set a "buy" rating and a $427.00 price objective for the company. Raymond James Financial assumed coverage on Talen Energy in a research note on Friday, June 13th. They set an "outperform" rating and a $314.00 price objective for the company. Wall Street Zen raised Talen Energy from a "sell" rating to a "hold" rating in a report on Monday, August 11th. Finally, Morgan Stanley increased their target price on Talen Energy from $300.00 to $330.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Sixteen analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $316.00.

Talen Energy Stock Performance

Talen Energy stock traded down $8.06 during mid-day trading on Wednesday, hitting $360.10. 964,115 shares of the company's stock traded hands, compared to its average volume of 1,098,605. The firm has a 50 day moving average price of $321.31 and a 200 day moving average price of $254.79. 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 company has a market cap of $16.45 billion, a PE ratio of 102.01, a price-to-earnings-growth ratio of 2.70 and a beta of 1.90. Talen Energy Corporation has a one year low of $136.56 and a one year high of $394.07.

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

About Talen Energy

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.