Comerica Bank Raises Stock Position in Talen Energy Corporation $TLN

Key Points

• Comerica Bank increased its holdings in Talen Energy by 11.1%, now owning approximately 0.15% of the company, valued at $13.84 million.
• Talen Energy reported a surprising $1.50 EPS for the quarter, exceeding expectations and generating $630 million in revenue.
• Multiple financial upgrades have been issued for Talen Energy, with analysts recommending the stock to be a "buy" and raising price targets significantly.

Comerica Bank grew its position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,331 shares of the utilities provider's stock after acquiring an additional 6,915 shares during the period. Comerica Bank owned about 0.15% of Talen Energy worth $13,843,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TLN. Fred Alger Management LLC raised its stake in shares of Talen Energy by 152.9% during the fourth quarter. Fred Alger Management LLC now owns 954,747 shares of the utilities provider's stock valued at $192,353,000 after acquiring an additional 577,257 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Talen Energy by 6,621.1% during the first quarter. Ameriprise Financial Inc. now owns 303,661 shares of the utilities provider's stock valued at $60,638,000 after acquiring an additional 299,143 shares during the last quarter. Encompass Capital Advisors LLC bought a new position in shares of Talen Energy during the fourth quarter valued at about $48,333,000. Lone Pine Capital LLC raised its stake in shares of Talen Energy by 27.2% during the fourth quarter. Lone Pine Capital LLC now owns 1,089,380 shares of the utilities provider's stock valued at $219,477,000 after acquiring an additional 233,165 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Talen Energy by 1,210.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 131,082 shares of the utilities provider's stock valued at $27,192,000 after acquiring an additional 121,082 shares during the last quarter. 0.38% of the stock is owned by institutional investors.

Insider Activity at Talen Energy

In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $296.04, for a total transaction 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. This represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 388,530 shares of company stock worth $114,090,933 in the last 90 days. Corporate insiders own 0.18% of the company's stock.

Talen Energy Stock Down 2.4%

Shares of NASDAQ TLN traded down $9.30 on Friday, reaching $378.92. 1,200,932 shares of the company's stock traded hands, compared to its average volume of 1,202,156. Talen Energy Corporation has a 12 month low of $137.50 and a 12 month high of $394.25. The business's 50 day simple moving average is $331.67 and its two-hundred day simple moving average is $260.31. The company has a market cap of $17.31 billion, a price-to-earnings ratio of 107.34, a price-to-earnings-growth ratio of 2.62 and a beta of 1.90. The company has a quick ratio of 1.34, a current ratio of 1.84 and a debt-to-equity ratio of 2.39.

Talen Energy (NASDAQ:TLN - Get Free Report) last announced its earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of ($1.13) by $2.63. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. The business had revenue of $630.00 million during the quarter, compared to the consensus estimate of $481.48 million. As a group, equities research analysts forecast that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TLN. Melius Research began coverage on shares of Talen Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $427.00 price objective for the company. Susquehanna reissued an "overweight" rating on shares of Talen Energy in a research note on Thursday, June 12th. Jefferies Financial Group increased their price target on shares of Talen Energy from $326.00 to $380.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Morgan Stanley increased their price target on shares of Talen Energy from $300.00 to $330.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Finally, Raymond James Financial assumed coverage on shares of Talen Energy in a research note on Friday, June 13th. They issued an "outperform" rating and a $314.00 price target for the company. Sixteen investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Talen Energy has an average rating of "Buy" and a consensus price target of $316.00.

Talen Energy 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.