Thornburg Investment Management Inc. Buys 8,978 Shares of Talen Energy Corporation $TLN

Key Points

• Thornburg Investment Management increased its Talen Energy stake by 22.1%, purchasing 8,978 additional shares to hold 49,589 shares valued at approximately $19.1 million.
• Talen Energy’s latest quarterly results fell short of expectations, with a $2.00 loss per share versus analysts’ projected $3.21 profit and revenue of $747 million versus an $832.8 million estimate.
• Shares opened at $296.11, near their 52-week low, while analyst sentiment remained a “Moderate Buy” with an average $466.86 price target; however, one analyst downgraded the stock to “Sell.”

Thornburg Investment Management Inc. increased its stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 22.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,589 shares of the utilities provider's stock after buying an additional 8,978 shares during the quarter. Thornburg Investment Management Inc. owned approximately 0.10% of Talen Energy worth $19,055,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Advisory Services Network LLC bought a new stake in Talen Energy during the third quarter worth $35,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Talen Energy by 1,500.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 90 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Talen Energy during the 2nd quarter worth about $38,000. Bessemer Group Inc. increased its stake in shares of Talen Energy by 404.0% during the 1st quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider's stock worth $41,000 after purchasing an additional 101 shares during the last quarter. Finally, Silvant Capital Management LLC bought a new stake in shares of Talen Energy in the 2nd quarter valued at about $42,000. 0.38% of the stock is owned by institutional investors.

Talen Energy Stock Down 2.8%

TLN stock opened at $296.11 on Friday. Talen Energy Corporation has a fifty-two week low of $294.75 and a fifty-two week high of $451.28. The company has a debt-to-equity ratio of 5.82, a current ratio of 0.78 and a quick ratio of 0.55. The stock has a market capitalization of $14.19 billion, a price-to-earnings ratio of -71.01 and a beta of 1.90. The business's fifty day moving average price is $358.05 and its two-hundred day moving average price is $356.13.

Talen Energy (NASDAQ:TLN - Get Free Report) last announced its earnings results 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). Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. The business had revenue of $747.00 million during the quarter, compared to the consensus estimate of $832.81 million. On average, equities analysts anticipate that Talen Energy Corporation will post 21.99 earnings per share for the current year.

Analyst Ratings Changes

TLN has been the subject of several recent analyst reports. Jefferies Financial Group cut their target price on shares of Talen Energy from $453.00 to $422.00 and set a "hold" rating for the company in a research note on Monday, July 20th. The Goldman Sachs Group restated a "buy" rating and issued a $509.00 price objective on shares of Talen Energy in a research note on Monday, August 10th. Barclays cut their price objective on Talen Energy from $411.00 to $408.00 and set an "overweight" rating for the company in a research report on Tuesday, July 28th. BNP Paribas Exane reiterated an "outperform" rating and set a $560.00 target price on shares of Talen Energy in a research note on Wednesday, August 19th. Finally, Wall Street Zen lowered Talen Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $466.86.

Insider Transactions at Talen Energy

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the transaction, the director owned 2,606 shares in the company, valued at $990,280. This represents a 49.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.78% of the stock is owned by corporate insiders.

Talen Energy Company Profile

Talen Energy Inc is an independent power producer that develops and operates a diversified portfolio of thermal and renewable generation facilities across the United States. The company supplies wholesale electricity and related services to utilities, large industrial customers, and power marketers, participating actively in regional markets such as PJM Interconnection and the Electric Reliability Council of Texas (ERCOT). Talen's asset base comprises a mix of natural gas-fired, coal-fired and nuclear generation, supplemented by battery storage and other flexible resources designed to support the evolving needs of the grid.

Established in December 2015 through the combination of the competitive generation businesses previously held by two major utility groups, Talen Energy was structured as a standalone, publicly traded entity on the NASDAQ stock exchange (TLN).

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