Talen Energy Corporation $TLN Stock: Assenagon Asset Management S.A. Cuts Position

Key Points

• Assenagon Asset Management reduced its Talen Energy stake by 14% in the third quarter, selling 60,960 shares and retaining 373,768 shares valued at approximately $116.9 million.
• Analyst sentiment remains generally positive, with nine Buy ratings, three Holds and one Sell; the stock carries a “Moderate Buy” consensus and an average price target of $463.08.
• Talen reported quarterly revenue of $959 million, beating estimates, but posted an adjusted loss of $2.00 per share versus the expected $3.21 profit. Shares opened at $354.81, while the company continues to carry high leverage with a debt-to-equity ratio of 5.82.

Assenagon Asset Management S.A. cut its holdings in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 14.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 373,768 shares of the utilities provider's stock after selling 60,960 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.78% of Talen Energy worth $116,874,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TLN. Continuum Advisory LLC purchased a new stake in Talen Energy during the second quarter worth about $33,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Talen Energy in the 2nd quarter worth approximately $38,000. Grove Bank & Trust raised its holdings in shares of Talen Energy by 40.5% in the 3rd quarter. Grove Bank & Trust now owns 104 shares of the utilities provider's stock worth $33,000 after purchasing an additional 30 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in Talen Energy in the second quarter valued at approximately $41,000. Finally, Silvant Capital Management LLC purchased a new position in Talen Energy in the second quarter valued at approximately $42,000. 0.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TLN. Wall Street Zen cut Talen Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. The Goldman Sachs Group reiterated a "buy" rating and set a $509.00 target price on shares of Talen Energy in a research report on Monday, August 10th. Barclays cut their target price on shares of Talen Energy from $411.00 to $408.00 and set an "overweight" rating for the company in a research report on Tuesday, July 28th. Weiss Ratings downgraded shares of Talen Energy from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 18th. Finally, Canadian Imperial Bank of Commerce initiated coverage on shares of Talen Energy in a research report on Thursday. They issued a "sector outperform" rating and a $499.00 price target on the stock. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $463.08.

Talen Energy Trading Up 0.3%

Shares of TLN stock opened at $354.81 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82. The business has a 50-day moving average price of $324.05 and a two-hundred day moving average price of $350.03. Talen Energy Corporation has a 12-month low of $279.77 and a 12-month high of $449.84. The firm has a market cap of $17.00 billion, a P/E ratio of -85.09 and a beta of 1.82.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.21 by ($5.21). The firm had revenue of $959.00 million during the quarter, compared to analysts' expectations of $832.81 million. Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%. Equities analysts anticipate that Talen Energy Corporation will post 21.99 EPS for the current fiscal year.

About Talen Energy

Talen Energy Corporation NASDAQ: TLN is an independent power producer that owns and operates a portfolio of electricity-generation facilities in the United States. The company supplies power and related services to wholesale electricity markets, utilities, commercial customers and other counterparties.

Talen's generation portfolio includes the Susquehanna nuclear power plant in Pennsylvania, one of the largest nuclear facilities in the country, as well as natural gas-fired and other generating assets.

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