Talen Energy Corporation $TLN Stake Trimmed by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments cut its Talen Energy stake by 36.4% in the third quarter, selling 70,902 shares and retaining 123,818 shares worth about $40 million.
• Talen reported quarterly earnings of $2.88 per share, well below the $8.33 analyst consensus, while revenue of $1.33 billion topped estimates.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $458.69; ratings range from Buy to Sell.

Allspring Global Investments Holdings LLC cut its stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 36.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,818 shares of the utilities provider's stock after selling 70,902 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.26% of Talen Energy worth $40,004,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Oppenheimer Asset Management Inc. acquired a new position in shares of Talen Energy in the second quarter worth about $4,132,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Talen Energy in the 2nd quarter worth about $5,118,000. Sax Wealth Advisors LLC acquired a new position in Talen Energy in the 3rd quarter worth about $1,313,000. Silicon Valley Capital Partners acquired a new stake in Talen Energy in the second quarter valued at approximately $2,386,000. Finally, Tidal Investments LLC increased its position in shares of Talen Energy by 84.7% in the second quarter. Tidal Investments LLC now owns 46,686 shares of the utilities provider's stock valued at $17,940,000 after buying an additional 21,406 shares in the last quarter. Hedge funds and other institutional investors own 0.38% of the company's stock.

Talen Energy Stock Up 4.9%

Shares of NASDAQ TLN opened at $378.71 on Thursday. The company has a 50 day simple moving average of $331.56 and a 200-day simple moving average of $348.36. The company has a market capitalization of $16.48 billion, a P/E ratio of -68.36 and a beta of 1.77. The company has a debt-to-equity ratio of 5.95, a current ratio of 0.89 and a quick ratio of 0.65. Talen Energy Corporation has a 1 year low of $279.77 and a 1 year high of $449.84.

Talen Energy (NASDAQ:TLN - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The utilities provider reported $2.88 EPS for the quarter, missing analysts' consensus estimates of $8.33 by ($5.45). The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.30 billion. Talen Energy had a negative net margin of 6.43% and a positive return on equity of 53.70%. During the same quarter in the prior year, the company posted $4.25 earnings per share. On average, equities research analysts predict that Talen Energy Corporation will post 15.26 earnings per share for the current year.

Analysts Set New Price Targets

TLN has been the topic of a number of research analyst reports. Zacks Research cut shares of Talen Energy from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 22nd. Barclays lowered their price objective on Talen Energy from $408.00 to $387.00 and set an "overweight" rating on the stock in a report on Tuesday, October 27th. HSBC initiated coverage on Talen Energy in a report on Thursday, October 22nd. They set a "buy" rating and a $444.30 target price for the company. New Street Research set a $405.00 target price on Talen Energy in a research report on Monday, August 24th. Finally, Jefferies Financial Group lowered their price target on Talen Energy from $453.00 to $422.00 and set a "hold" rating on the stock in a research note on Monday, July 20th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $458.69.

About Talen Energy

Talen Energy Corporation is an independent power producer that owns and operates electricity-generation facilities in the United States. Its portfolio includes nuclear, natural gas, coal, oil and hydroelectric assets, with the Susquehanna nuclear power plant in Pennsylvania among its major facilities. The company sells electricity and related products, including capacity and ancillary services, primarily through wholesale power markets. Its operations are concentrated in the Mid-Atlantic region served by PJM Interconnection, with additional generation assets in other U.S. markets.

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