T. Rowe Price Investment Management Inc. Decreases Holdings in Talen Energy Corporation $TLN

Key Points

• T. Rowe Price Investment Management Inc. has reduced its stake in Talen Energy Corporation by 52.7%, now owning just 11,751 shares valued at approximately $2.35 million.
• Several institutional investors have adjusted their positions in Talen Energy, with IFP Advisors Inc. increasing their stake by 42.4% during the same period.
• Analysts have set new price targets for Talen Energy, with UBS Group indicating a target of $431.00 and offering a "buy" rating, reflecting strong investor interest.

T. Rowe Price Investment Management Inc. trimmed its holdings in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 52.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,751 shares of the utilities provider's stock after selling 13,087 shares during the quarter. T. Rowe Price Investment Management Inc.'s holdings in Talen Energy were worth $2,347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Russell Investments Group Ltd. increased its stake in shares of Talen Energy by 75.8% during the 1st quarter. Russell Investments Group Ltd. now owns 17,502 shares of the utilities provider's stock worth $3,495,000 after purchasing an additional 7,547 shares during the last quarter. Crescent Grove Advisors LLC purchased a new stake in shares of Talen Energy during the 1st quarter worth approximately $285,000. Thoroughbred Financial Services LLC purchased a new stake in shares of Talen Energy during the 1st quarter worth approximately $756,000. TCW Group Inc. purchased a new stake in shares of Talen Energy during the 1st quarter worth approximately $9,266,000. Finally, Principal Financial Group Inc. increased its stake in shares of Talen Energy by 114.9% during the 1st quarter. Principal Financial Group Inc. now owns 3,591 shares of the utilities provider's stock worth $717,000 after purchasing an additional 1,920 shares during the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Jefferies Financial Group lifted their price objective on Talen Energy from $326.00 to $380.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Susquehanna reissued an "overweight" rating on shares of Talen Energy in a report on Thursday, June 12th. Barclays increased their target price on Talen Energy from $353.00 to $418.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Melius assumed coverage on Talen Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $427.00 target price on the stock. Finally, UBS Group set a $431.00 price objective on shares of Talen Energy and gave the company a "buy" rating in a research note on Friday, July 25th. Sixteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $316.00.

Insider Buying and Selling at Talen Energy

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the transaction, the insider directly owned 5,734,970 shares of the company's stock, valued at approximately $1,697,780,518.80. This trade represents a 3.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 388,530 shares of company stock worth $114,090,933. Company insiders own 0.18% of the company's stock.

Talen Energy Price Performance

TLN traded down $9.30 during trading on Friday, reaching $378.92. The stock had a trading volume of 1,200,932 shares, compared to its average volume of 1,305,642. The stock has a market cap of $17.31 billion, a PE 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 quick ratio of 1.34 and a current ratio of 1.84. Talen Energy Corporation has a one year low of $137.50 and a one year high of $394.25. The business has a 50-day moving average of $333.48 and a 200-day moving average of $261.31.

Talen Energy (NASDAQ:TLN - Get Free Report) last released 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. The business had revenue of $630.00 million for the quarter, compared to analysts' expectations of $481.48 million. Talen Energy had a return on equity of 17.81% and a net margin of 8.75%. As a group, equities research analysts anticipate that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

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.