Talen Energy Corporation $TLN Shares Sold by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC reduced its holdings in Talen Energy by 34.3%, resulting in ownership of 4,037 shares worth $1,174,000 after selling 2,107 shares in the second quarter.
• Major shareholder Rubric Capital Management sold 178,000 shares at an average price of $296.04, totaling over $52 million, and reduced their stake by 3.01%.
• Talen Energy reported earnings of $1.50 per share for the latest quarter, surpassing analyst expectations by $2.63, with revenues of $630 million against estimates of $481.48 million.

Farther Finance Advisors LLC reduced its holdings in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 34.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,037 shares of the utilities provider's stock after selling 2,107 shares during the period. Farther Finance Advisors LLC's holdings in Talen Energy were worth $1,174,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Signaturefd LLC grew its holdings in Talen Energy by 310.0% in the first quarter. Signaturefd LLC now owns 123 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 93 shares during the period. Brooklyn Investment Group acquired a new stake in Talen Energy in the first quarter valued at approximately $25,000. Golden State Wealth Management LLC acquired a new stake in Talen Energy in the first quarter valued at approximately $35,000. LRI Investments LLC grew its holdings in Talen Energy by 179.0% in the first quarter. LRI Investments LLC now owns 173 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 111 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new stake in Talen Energy in the first quarter valued at approximately $35,000. 0.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of Talen Energy stock in a transaction on 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 sale, the insider owned 5,734,970 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.18% of the company's stock.

Talen Energy Stock Performance

NASDAQ TLN opened at $416.94 on Thursday. The stock's fifty day moving average is $375.95 and its two-hundred day moving average is $284.10. The firm has a market capitalization of $19.05 billion, a P/E ratio of 118.11, a price-to-earnings-growth ratio of 2.23 and a beta of 1.89. 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 fifty-two week low of $148.02 and a fifty-two week high of $430.71.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on TLN. Zacks Research downgraded Talen Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 18th. Wall Street Zen upgraded Talen Energy from a "sell" rating to a "hold" rating in a research report on Monday, August 11th. Morgan Stanley raised their target price on Talen Energy from $330.00 to $430.00 and gave the company an "overweight" rating in a research report on Wednesday, September 10th. Melius Research raised their target price on Talen Energy from $427.00 to $576.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Finally, Evercore ISI raised their target price on Talen Energy from $410.00 to $450.00 and gave the company an "outperform" rating in a research report on Tuesday, September 9th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $358.53.

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.

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