Talen Energy Corporation $TLN Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Talen Energy stake by 183.3% in the second quarter, purchasing 281,291 additional shares and bringing its holdings to 434,728 shares worth approximately $167 million.
• Analysts remain broadly positive, with Talen receiving a “Moderate Buy” consensus rating and an average price target of $478.18. Recent actions included buy and overweight ratings from Goldman Sachs, Morgan Stanley, and Barclays, while Zacks upgraded the stock to “Strong Buy.”
• Talen’s latest quarterly results missed expectations, reporting a $2.00 loss per share versus the estimated $3.21 profit and revenue of $747 million versus the $832.81 million consensus forecast.

Assenagon Asset Management S.A. increased its stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 183.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 434,728 shares of the utilities provider's stock after purchasing an additional 281,291 shares during the period. Assenagon Asset Management S.A. owned 0.91% of Talen Energy worth $167,049,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Talen Energy by 1,526.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,054 shares of the utilities provider's stock valued at $9,766,000 after acquiring an additional 24,452 shares during the period. Oppenheimer & Co. Inc. lifted its position in Talen Energy by 400.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 14,105 shares of the utilities provider's stock worth $5,287,000 after acquiring an additional 11,287 shares during the period. Sanctuary Advisors LLC lifted its position in Talen Energy by 116.8% during the 4th quarter. Sanctuary Advisors LLC now owns 6,454 shares of the utilities provider's stock worth $2,419,000 after acquiring an additional 3,477 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in Talen Energy during the 4th quarter valued at about $50,324,000. Finally, US Bancorp DE grew its stake in Talen Energy by 4.3% during the 4th quarter. US Bancorp DE now owns 105,848 shares of the utilities provider's stock valued at $39,676,000 after purchasing an additional 4,407 shares during the last quarter. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the sale, the director owned 2,606 shares in the company, valued at approximately $990,280. This represents a 49.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.78% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Morgan Stanley reissued an "overweight" rating and issued a $508.00 price objective on shares of Talen Energy in a report on Wednesday, June 24th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Talen Energy in a report on Tuesday. Zacks Research upgraded Talen Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 29th. Barclays cut their price target on shares of Talen Energy from $411.00 to $408.00 and set an "overweight" rating on the stock in a report on Tuesday, July 28th. Finally, The Goldman Sachs Group started coverage on shares of Talen Energy in a research report on Thursday, June 18th. They set a "buy" rating and a $499.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $478.18.

Talen Energy Price Performance

Shares of TLN opened at $338.31 on Friday. The business's 50-day moving average is $374.63 and its two-hundred day moving average is $358.78. The company has a market capitalization of $16.21 billion, a P/E ratio of -81.13 and a beta of 1.90. Talen Energy Corporation has a fifty-two week low of $301.45 and a fifty-two week high of $451.28. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25.

Talen Energy (NASDAQ:TLN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (EPS) for the quarter, missing the consensus estimate of $3.21 by ($5.21). The company had revenue of $747.00 million during the quarter, compared to analyst estimates of $832.81 million. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 47.14%. Research analysts predict that Talen Energy Corporation will post 27.82 earnings per share for the current year.

Talen Energy Company Profile

Talen Energy Inc is an independent power producer that develops and operates a diversified portfolio of thermal and renewable generation facilities across the United States. The company supplies wholesale electricity and related services to utilities, large industrial customers, and power marketers, participating actively in regional markets such as PJM Interconnection and the Electric Reliability Council of Texas (ERCOT). Talen's asset base comprises a mix of natural gas-fired, coal-fired and nuclear generation, supplemented by battery storage and other flexible resources designed to support the evolving needs of the grid.

Established in December 2015 through the combination of the competitive generation businesses previously held by two major utility groups, Talen Energy was structured as a standalone, publicly traded entity on the NASDAQ stock exchange (TLN).

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