Talen Energy Corporation $TLN Stock: CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Grows Holdings

Key Points

• NXG Investment Management increased its Talen Energy stake by 20.6% in the third quarter, purchasing 15,800 additional shares for a total of 92,600 shares valued at approximately $29 million.
• Analyst sentiment remains broadly positive, with an average “Moderate Buy” rating and a consensus price target of $461.95, although Zacks Research downgraded the stock to “strong sell.”
• Talen Energy shares opened at $337.78, well below their one-year high of $449.84. The company’s latest quarter included a $2.00 loss per share, missing estimates, despite revenue of $959 million exceeding expectations.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 20.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,600 shares of the utilities provider's stock after buying an additional 15,800 shares during the quarter. Talen Energy makes up approximately 1.3% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 23rd biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.19% of Talen Energy worth $28,955,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TLN. Grove Bank & Trust boosted its holdings in shares of Talen Energy by 40.5% in the third quarter. Grove Bank & Trust now owns 104 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 30 shares in the last quarter. Ritholtz Wealth Management raised its holdings in Talen Energy by 3.6% during the first quarter. Ritholtz Wealth Management now owns 1,045 shares of the utilities provider's stock worth $334,000 after purchasing an additional 36 shares in the last quarter. Red Door Wealth Management LLC raised its holdings in Talen Energy by 2.1% during the first quarter. Red Door Wealth Management LLC now owns 2,236 shares of the utilities provider's stock worth $714,000 after purchasing an additional 45 shares in the last quarter. Compound Planning Inc. lifted its position in Talen Energy by 5.7% in the first quarter. Compound Planning Inc. now owns 889 shares of the utilities provider's stock valued at $284,000 after purchasing an additional 48 shares during the period. Finally, Ancora Advisors LLC lifted its position in Talen Energy by 2.2% in the second quarter. Ancora Advisors LLC now owns 2,273 shares of the utilities provider's stock valued at $873,000 after purchasing an additional 50 shares during the period. 0.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TLN has been the subject of several recent analyst reports. Zacks Research cut Talen Energy from a "hold" rating to a "strong sell" rating in a report on Thursday, October 22nd. New Street Research set a $405.00 price objective on Talen Energy in a report on Monday, August 24th. Susquehanna set a $449.00 price objective on Talen Energy in a research report on Friday, August 7th. BNP Paribas Exane reissued an "outperform" rating and issued a $560.00 target price on shares of Talen Energy in a report on Wednesday, August 19th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $509.00 target price on shares of Talen Energy in a report on Monday, August 10th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Talen Energy presently has an average rating of "Moderate Buy" and an average target price of $461.95.

Talen Energy Price Performance

Shares of NASDAQ:TLN opened at $337.78 on Tuesday. The business's fifty day moving average price is $323.11 and its two-hundred day moving average price is $350.01. The stock has a market cap of $16.18 billion, a PE ratio of -81.00 and a beta of 1.82. The company has a debt-to-equity ratio of 5.82, a quick ratio of 0.55 and a current ratio of 0.78. Talen Energy Corporation has a one year low of $279.77 and a one year high of $449.84.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) EPS for the quarter, missing analysts' consensus estimates of $3.21 by ($5.21). Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. The company had revenue of $959.00 million for the quarter, compared to analyst estimates of $832.81 million. On average, analysts forecast that Talen Energy Corporation will post 21.15 EPS for the current fiscal year.

Talen Energy Profile

Talen Energy Corporation NASDAQ: TLN is an independent power producer that owns and operates power generation and energy infrastructure assets in the United States. The company sells electricity, capacity and ancillary services into wholesale power markets, serving utilities, commercial and industrial customers, and other energy market participants.

Talen's generation portfolio includes nuclear, natural gas and other power assets. Its Susquehanna nuclear power station in Pennsylvania is a central part of the company's operations, and Talen has also pursued energy infrastructure projects designed to support large-scale electricity users, including data centers and other technology-related facilities.

The company was formed in 2015 through the separation of competitive power generation assets from PPL Corporation.

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