Ameriprise Financial Inc. Boosts Stock Holdings in Talen Energy Corporation $TLN

Key Points

• Ameriprise Financial Inc. significantly increased its stake in Talen Energy Corporation by 6,621.1% in Q1, now owning 303,661 shares valued at approximately $60.6 million.
• Insider trading activity shows that major shareholder Rubric Capital Management sold 178,000 shares, reducing their ownership by 3.01% and bringing their total to approximately 5.7 million shares valued at nearly $1.7 billion.
• Equities analysts have set new price targets for Talen Energy, with recommendations ranging from $315.00 to $427.00, and the stock holds a consensus rating of "Buy."

Ameriprise Financial Inc. raised its holdings in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 6,621.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 303,661 shares of the utilities provider's stock after buying an additional 299,143 shares during the period. Ameriprise Financial Inc. owned about 0.67% of Talen Energy worth $60,638,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in TLN. Wells Fargo & Company MN lifted its stake in shares of Talen Energy by 500.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,925 shares of the utilities provider's stock valued at $589,000 after buying an additional 2,438 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Talen Energy by 881.0% in the fourth quarter. First Trust Advisors LP now owns 43,891 shares of the utilities provider's stock valued at $8,843,000 after buying an additional 39,417 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Talen Energy by 7,285.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 517 shares of the utilities provider's stock valued at $104,000 after purchasing an additional 510 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Talen Energy by 31.3% during the fourth quarter. Stifel Financial Corp now owns 28,325 shares of the utilities provider's stock valued at $5,707,000 after purchasing an additional 6,747 shares in the last quarter. Finally, Pinebridge Investments L.P. bought a new position in shares of Talen Energy during the fourth quarter valued at about $467,000. 0.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TLN shares. Morgan Stanley raised their price target on shares of Talen Energy from $300.00 to $330.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Melius Research started coverage on shares of Talen Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $427.00 price target on the stock. Melius started coverage on shares of Talen Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $427.00 price target on the stock. Barclays raised their price target on shares of Talen Energy from $353.00 to $418.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Finally, Raymond James Financial began coverage on shares of Talen Energy in a research report on Friday, June 13th. They set an "outperform" rating and a $314.00 price target on the stock. Sixteen analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Talen Energy presently has an average rating of "Buy" and a consensus target price of $316.00.

Talen Energy Stock Performance

Shares of TLN traded down $9.30 during trading hours on Friday, hitting $378.92. The company's stock had a trading volume of 1,200,932 shares, compared to its average volume of 1,305,642. The company has a market cap of $17.31 billion, a price-to-earnings ratio of 107.34, a PEG ratio of 2.67 and a beta of 1.90. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.84 and a quick ratio of 1.34. The business has a 50 day simple moving average of $333.48 and a two-hundred day simple moving average of $261.31. Talen Energy Corporation has a 52-week low of $137.50 and a 52-week high of $394.25.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share for the quarter, topping the consensus estimate of ($1.13) by $2.63. The firm had revenue of $630.00 million during the quarter, compared to the consensus estimate of $481.48 million. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. On average, equities analysts expect that Talen Energy Corporation will post 15.94 earnings per share 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 Talen Energy stock in a transaction dated Friday, June 27th. The shares were 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 owned 5,734,970 shares in the company, valued at $1,697,780,518.80. This trade represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 388,530 shares of company stock valued at $114,090,933 in the last three months. 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.