Zimmer Partners LP Purchases 3,200 Shares of 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 increased its holdings in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 26.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,370 shares of the utilities provider's stock after buying an additional 3,200 shares during the quarter. Zimmer Partners LP's holdings in Talen Energy were worth $3,069,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Clearline Capital LP purchased a new position in Talen Energy in the first quarter valued at about $18,547,000. Aristeia Capital L.L.C. grew its stake in Talen Energy by 95.0% in the first quarter. Aristeia Capital L.L.C. now owns 2,204 shares of the utilities provider's stock valued at $440,000 after purchasing an additional 1,074 shares in the last quarter. Fred Alger Management LLC grew its stake in Talen Energy by 56.3% in the first quarter. Fred Alger Management LLC now owns 1,492,145 shares of the utilities provider's stock valued at $297,937,000 after purchasing an additional 537,398 shares in the last quarter. CTC Alternative Strategies Ltd. purchased a new position in Talen Energy in the first quarter valued at about $260,000. Finally, Kestra Investment Management LLC purchased a new position in Talen Energy in the first quarter valued at about $323,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Talen Energy Price Performance

Shares of TLN stock traded up $1.61 during trading hours on Friday, hitting $402.53. The company had a trading volume of 435,205 shares, compared to its average volume of 1,161,560. The firm's fifty day moving average is $353.19 and its 200 day moving average is $272.30. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.34 and a current ratio of 1.84. Talen Energy Corporation has a 12 month low of $148.02 and a 12 month high of $410.00. The firm has a market capitalization of $18.39 billion, a price-to-earnings ratio of 114.03, a PEG ratio of 1.92 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, topping the consensus estimate of ($1.13) by $2.63. Talen Energy had a return on equity of 17.81% and a net margin of 8.75%.The company had revenue of $630.00 million for the quarter, compared to analysts' expectations of $481.48 million. On average, sell-side analysts predict that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of Talen Energy stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $296.04, for a total value 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 $1,697,780,518.80. The trade was a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 388,530 shares of company stock valued at $114,090,933 over the last three months. Insiders own 0.18% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. 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 on the stock. UBS Group set a $431.00 price objective on Talen Energy and gave the stock a "buy" rating in a research report on Friday, July 25th. Morgan Stanley upped their price target on Talen Energy from $330.00 to $430.00 and gave the company an "overweight" rating in a report on Wednesday. Melius Research upped their price target on Talen Energy from $427.00 to $576.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Barclays upped their price target on Talen Energy from $418.00 to $440.00 and gave the company an "overweight" rating in a report on Thursday. Fifteen analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $354.29.

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.