Kestra Advisory Services LLC Boosts Holdings in Talen Energy Corporation $TLN

Key Points

• Kestra Advisory Services LLC increased its holdings in Talen Energy Corporation by 127.1% in Q1, acquiring a total of 23,584 shares worth approximately $4.7 million.
• Major shareholder Rubric Capital Management sold 178,000 shares for about $52.7 million, reducing their ownership by 3.01%.
• Analysts have upgraded Talen Energy's stock ratings, with Barclays raising the price target from $353 to $418, reflecting a positive outlook on the company's performance.

Kestra Advisory Services LLC raised its holdings in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 127.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,584 shares of the utilities provider's stock after buying an additional 13,198 shares during the period. Kestra Advisory Services LLC owned about 0.05% of Talen Energy worth $4,709,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of TLN. Ameriprise Financial Inc. raised its stake in Talen Energy by 6,621.1% in the first quarter. Ameriprise Financial Inc. now owns 303,661 shares of the utilities provider's stock worth $60,638,000 after buying an additional 299,143 shares in the last quarter. Capital Fund Management S.A. raised its stake in Talen Energy by 11.9% in the first quarter. Capital Fund Management S.A. now owns 33,659 shares of the utilities provider's stock worth $6,721,000 after buying an additional 3,580 shares in the last quarter. Absolute Gestao de Investimentos Ltda. bought a new position in Talen Energy in the first quarter worth approximately $3,384,000. Brooklyn Investment Group bought a new position in Talen Energy in the first quarter worth approximately $25,000. Finally, Cresset Asset Management LLC raised its stake in Talen Energy by 11.0% in the first quarter. Cresset Asset Management LLC now owns 1,718 shares of the utilities provider's stock worth $343,000 after buying an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Melius assumed coverage on shares of Talen Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $427.00 price objective for the company. Jefferies Financial Group boosted their price objective on shares of Talen Energy from $326.00 to $380.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Raymond James Financial started coverage on shares of Talen Energy in a research note on Friday, June 13th. They issued an "outperform" rating and a $314.00 price objective for the company. Oppenheimer set a $315.00 price target on Talen Energy and gave the stock an "outperform" rating in a research report on Friday, July 11th. Finally, UBS Group set a $431.00 price target on Talen Energy and gave the stock a "buy" rating in a research report on Friday, July 25th. Sixteen analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $316.00.

Talen Energy Stock Performance

Shares of TLN traded down $9.30 during trading hours on Friday, reaching $378.92. 1,200,932 shares of the company traded hands, compared to its average volume of 1,305,642. The stock has a market capitalization of $17.31 billion, a P/E ratio of 107.34, a P/E/G ratio of 2.67 and a beta of 1.90. The company has a quick ratio of 1.34, a current ratio of 1.84 and a debt-to-equity ratio of 2.39. Talen Energy Corporation has a 12-month low of $137.50 and a 12-month high of $394.25. The business has a fifty day moving average price of $333.48 and a 200-day moving average price of $261.31.

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 for the quarter, beating analysts' consensus estimates of ($1.13) by $2.63. The firm had revenue of $630.00 million for the quarter, compared to analyst estimates of $481.48 million. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. Equities analysts anticipate that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

Insider Buying and Selling at Talen Energy

In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the business's stock in a transaction on 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 sale, the insider directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 388,530 shares of company stock worth $114,090,933 over the last 90 days. 0.18% of the stock is owned by insiders.

Talen Energy Company 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.