Zimmer Partners LP Grows Stake in Talen Energy Corporation $TLN

Key Points

• Zimmer Partners LP increased its stake in Talen Energy Corporation by 26.3% during the first quarter, holding 15,370 shares valued at approximately $3.07 million.
• Talen Energy reported an earnings per share (EPS) of $1.50 for the last quarter, significantly beating analyst expectations of ($1.13).
• Investment analysts have a consensus rating of "Buy" for Talen Energy, with an average target price of $326.08, indicating optimistic market sentiment.

Zimmer Partners LP boosted its holdings in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 26.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,370 shares of the utilities provider's stock after purchasing an additional 3,200 shares during the period. Zimmer Partners LP's holdings in Talen Energy were worth $3,069,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Signaturefd LLC lifted its stake 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 acquiring an additional 93 shares during the period. Brooklyn Investment Group bought a new position in Talen Energy in the 1st quarter worth $25,000. Golden State Wealth Management LLC purchased a new stake in shares of Talen Energy in the 1st quarter worth about $35,000. LRI Investments LLC boosted its stake in shares of Talen Energy by 179.0% during the 1st quarter. LRI Investments LLC now owns 173 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 111 shares in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Talen Energy during the first quarter valued at about $35,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Stock Performance

Shares of NASDAQ TLN traded up $1.61 during midday trading on Friday, hitting $402.53. 435,205 shares of the company's stock traded hands, compared to its average volume of 1,177,874. The firm has a fifty day moving average of $350.99 and a 200 day moving average of $270.61. Talen Energy Corporation has a 1 year low of $148.02 and a 1 year high of $410.00. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.34 and a current ratio of 1.84. The stock has a market capitalization of $18.39 billion, a price-to-earnings ratio of 114.03, a price-to-earnings-growth ratio of 2.77 and a beta of 1.89.

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

Wall Street Analysts Forecast Growth

TLN has been the subject of several research analyst reports. Susquehanna restated an "overweight" rating on shares of Talen Energy in a report on Thursday, June 12th. Jefferies Financial Group increased their target price on Talen Energy from $326.00 to $380.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Melius began coverage on Talen Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $427.00 target price for the company. Morgan Stanley lifted their price target on Talen Energy from $330.00 to $430.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Oppenheimer set a $315.00 target price on shares of Talen Energy and gave the stock an "outperform" rating in a research report on Friday, July 11th. Fifteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $354.29.

Insider Activity at Talen Energy

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the firm's stock in a transaction that occurred 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 owned 5,734,970 shares in the company, 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. Insiders sold a total of 388,530 shares of company stock valued at $114,090,933 over the last 90 days. 0.18% of the stock is owned by company insiders.

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.