Transcend Capital Advisors LLC Takes $534,000 Position in Talen Energy Corporation (NASDAQ:TLN)

Transcend Capital Advisors 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 Form 13F filing with the Securities and Exchange Commission. The firm bought 2,674 shares of the utilities provider's stock, valued at approximately $534,000.

A number of other hedge funds have also made changes to their positions in the business. Goldstein Advisors LLC purchased a new position in shares of Talen Energy in the 1st quarter valued at $211,000. Golden State Wealth Management LLC acquired a new stake in Talen Energy during the 1st quarter valued at $35,000. Oppenheimer & Co. Inc. acquired a new stake in Talen Energy during the 1st quarter valued at $703,000. Oppenheimer Asset Management Inc. grew its holdings in Talen Energy by 10.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,205 shares of the utilities provider's stock valued at $2,237,000 after purchasing an additional 1,055 shares in the last quarter. Finally, Congress Park Capital LLC acquired a new stake in Talen Energy during the 1st quarter valued at $250,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Talen Energy Price Performance

Shares of TLN stock opened at $297.88 on Friday. The firm has a market cap of $13.56 billion, a P/E ratio of 30.93, a P/E/G ratio of 7.15 and a beta of 1.78. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.62 and a quick ratio of 1.20. Talen Energy Corporation has a 1-year low of $98.50 and a 1-year high of $300.00. The firm has a fifty day moving average of $247.98 and a two-hundred day moving average of $224.25.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.82 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.35). Talen Energy had a net margin of 28.51% and a return on equity of 11.47%. The business had revenue of $390.00 million during the quarter, compared to analyst estimates of $556.93 million. As a group, research analysts anticipate that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on TLN. JPMorgan Chase & Co. lowered their price target on shares of Talen Energy from $295.00 to $265.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Daiwa Capital Markets set a $200.00 price target on shares of Talen Energy in a report on Wednesday, March 5th. UBS Group raised their price target on shares of Talen Energy from $296.00 to $366.00 and gave the company a "buy" rating in a report on Friday. Raymond James Financial began coverage on shares of Talen Energy in a report on Friday, June 13th. They set an "outperform" rating and a $314.00 price target for the company. Finally, Barclays lowered their price target on shares of Talen Energy from $293.00 to $282.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Talen Energy currently has a consensus rating of "Moderate Buy" and an average price target of $255.25.

Insider Activity

In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of Talen Energy stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $296.04, for a total value of $52,695,120.00. Following the completion of the transaction, the insider now directly owns 5,734,970 shares of the company's stock, valued at approximately $1,697,780,518.80. The trade was a 3.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 388,530 shares of company stock valued at $114,090,933. Company insiders own 0.18% of the company's stock.

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.

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