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Townsquare Capital LLC Buys Shares of 47,067 Talen Energy Corporation (NASDAQ:TLN)

Talen Energy logo with Energy background

Key Points

  • Townsquare Capital LLC has acquired a new stake in Talen Energy Corporation, purchasing 47,067 shares valued at approximately $9.4 million, representing 0.10% ownership of the company.
  • Analyst ratings for Talen Energy have been mostly positive, with analysts from firms like Morgan Stanley and Barclays increasing target prices, suggesting a consensus average target price of $292.58.
  • Insider activity has seen significant transactions, particularly a major shareholder selling 178,000 shares for over $52 million, which has slightly decreased their total ownership in the company.
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Townsquare Capital LLC bought a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 47,067 shares of the utilities provider's stock, valued at approximately $9,398,000. Townsquare Capital LLC owned 0.10% of Talen Energy as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fred Alger Management LLC raised its holdings in shares of Talen Energy by 152.9% in the 4th quarter. Fred Alger Management LLC now owns 954,747 shares of the utilities provider's stock valued at $192,353,000 after buying an additional 577,257 shares during the period. Encompass Capital Advisors LLC acquired a new position in Talen Energy during the 4th quarter worth $48,333,000. Lone Pine Capital LLC grew its stake in Talen Energy by 27.2% during the 4th quarter. Lone Pine Capital LLC now owns 1,089,380 shares of the utilities provider's stock worth $219,477,000 after purchasing an additional 233,165 shares in the last quarter. FIL Ltd acquired a new position in Talen Energy during the 4th quarter worth $43,816,000. Finally, Invesco Ltd. grew its stake in Talen Energy by 32.8% during the 4th quarter. Invesco Ltd. now owns 652,478 shares of the utilities provider's stock worth $131,455,000 after purchasing an additional 161,269 shares in the last quarter. Hedge funds and other institutional investors own 0.38% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TLN. Morgan Stanley boosted their target price on Talen Energy from $300.00 to $330.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Raymond James Financial began coverage on Talen Energy in a report on Friday, June 13th. They issued an "outperform" rating and a $314.00 target price for the company. Wall Street Zen downgraded Talen Energy from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Oppenheimer set a $315.00 price objective on Talen Energy and gave the company an "outperform" rating in a research note on Friday, July 11th. Finally, Barclays upped their price objective on Talen Energy from $269.00 to $359.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. One research analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $292.58.

Check Out Our Latest Analysis on TLN

Talen Energy Stock Performance

Shares of TLN stock traded down $0.90 during trading hours on Friday, reaching $374.68. 619,829 shares of the company's stock were exchanged, compared to its average volume of 1,463,482. The company has a market cap of $17.12 billion, a P/E ratio of 106.14, a price-to-earnings-growth ratio of 3.12 and a beta of 1.90. The company's 50 day moving average is $302.73 and its two-hundred day moving average is $246.52. Talen Energy Corporation has a 1 year low of $113.41 and a 1 year high of $394.07. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.84 and a quick ratio of 1.34.

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

Insider Buying and Selling at Talen Energy

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $296.04, for a total value 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 388,530 shares of company stock valued at $114,090,933.

Talen Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Talen Energy (NASDAQ:TLN)

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