Truist Financial Corp Grows Stock Holdings in Talen Energy Corporation $TLN

Key Points

• Truist Financial Corp increased its stake in Talen Energy Corporation by 37.7%, owning 5,201 shares worth approximately $1.5 million after acquiring 1,425 additional shares in the second quarter.
• Talen Energy reported quarterly earnings of $1.50 per share, significantly exceeding expectations, with revenues reaching $630 million compared to projections of $481.48 million.
• Thirteen analysts have rated Talen Energy with a Buy rating, leading to an average target price of $376.85, indicating a generally positive outlook for the stock.

Truist Financial Corp raised its position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 37.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,201 shares of the utilities provider's stock after purchasing an additional 1,425 shares during the period. Truist Financial Corp's holdings in Talen Energy were worth $1,512,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TLN. Third Point LLC purchased a new stake in Talen Energy during the first quarter valued at about $116,807,000. Fred Alger Management LLC raised its position in Talen Energy by 56.3% during the first quarter. Fred Alger Management LLC now owns 1,492,145 shares of the utilities provider's stock valued at $297,937,000 after purchasing an additional 537,398 shares in the last quarter. PointState Capital LP purchased a new stake in Talen Energy during the first quarter valued at about $75,148,000. Assenagon Asset Management S.A. purchased a new stake in Talen Energy during the second quarter valued at about $91,239,000. Finally, Ameriprise Financial Inc. raised its position in 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 purchasing an additional 299,143 shares in the last quarter. Hedge funds and other institutional investors own 0.38% of the company's stock.

Talen Energy Stock Performance

Talen Energy stock opened at $412.83 on Friday. The stock's 50 day simple moving average is $396.79 and its two-hundred day simple moving average is $303.46. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.34 and a current ratio of 1.84. The stock has a market cap of $18.86 billion, a price-to-earnings ratio of 116.95, a PEG ratio of 2.22 and a beta of 1.88. Talen Energy Corporation has a fifty-two week low of $148.02 and a fifty-two week high of $451.28.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Talen Energy in a report on Wednesday. Scotiabank assumed coverage on Talen Energy in a report on Monday, September 22nd. They issued a "sector perform" rating and a $418.00 price objective on the stock. Barclays lifted their price objective on Talen Energy from $418.00 to $440.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Oppenheimer set a $315.00 price objective on Talen Energy and gave the stock an "outperform" rating in a report on Friday, July 11th. Finally, Morgan Stanley lifted their price objective on Talen Energy from $330.00 to $430.00 and gave the stock an "overweight" rating in a report on Wednesday, September 10th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Talen Energy has an average rating of "Moderate Buy" and an average target price of $376.85.

About Talen Energy

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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