VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 13,320 Talen Energy Corporation $TLN

Key Points

• Virginia Retirement Systems purchased 13,320 shares of Talen Energy worth approximately $5.1 million during the second quarter. Hedge funds and institutional investors collectively own 0.38% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $468.15, despite several recent target-price reductions.
• Talen Energy shares opened at $325.77, while the company’s latest quarterly results missed expectations: it reported a $2.00 loss per share versus the projected $3.21 profit and revenue of $747 million versus estimates of $832.81 million.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 13,320 shares of the utilities provider's stock, valued at approximately $5,118,000.

Other hedge funds have also modified their holdings of the company. Continuum Advisory LLC purchased a new stake in Talen Energy in the 2nd quarter valued at about $33,000. Advisory Services Network LLC purchased a new position in Talen Energy during the third quarter worth about $35,000. Northwestern Mutual Wealth Management Co. boosted its stake in Talen Energy by 1,500.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider's stock worth $36,000 after buying an additional 90 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Talen Energy during the second quarter valued at about $38,000. Finally, Bessemer Group Inc. increased its position in shares of Talen Energy by 404.0% during the first quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider's stock valued at $41,000 after acquiring an additional 101 shares during the last quarter. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TLN. Wall Street Zen lowered shares of Talen Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Jefferies Financial Group dropped their target price on shares of Talen Energy from $453.00 to $422.00 and set a "hold" rating for the company in a report on Monday, July 20th. Barclays cut their target price on Talen Energy from $411.00 to $408.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 28th. New Street Research set a $405.00 price target on Talen Energy in a research report on Monday, August 24th. Finally, Wells Fargo & Company boosted their price objective on Talen Energy from $482.00 to $501.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Nine investment 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $468.15.

Insider Buying and Selling at Talen Energy

In related news, Director Gizman Abbas sold 2,600 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the sale, the director owned 2,606 shares of the company's stock, valued at $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.78% of the company's stock.

Talen Energy Stock Up 2.8%

Talen Energy stock opened at $325.77 on Wednesday. The firm has a market capitalization of $15.61 billion, a P/E ratio of -78.12 and a beta of 1.84. The company has a current ratio of 0.78, a quick ratio of 0.55 and a debt-to-equity ratio of 5.82. Talen Energy Corporation has a twelve month low of $288.58 and a twelve month high of $451.28. The stock's fifty day simple moving average is $343.98 and its 200-day simple moving average is $353.01.

Talen Energy (NASDAQ:TLN - Get Free Report) last released its earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) EPS for the quarter, missing the consensus estimate of $3.21 by ($5.21). Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%.The company had revenue of $747.00 million for the quarter, compared to analyst estimates of $832.81 million. As a group, equities analysts expect that Talen Energy Corporation will post 21.99 earnings per share for the current fiscal year.

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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