PNC Financial Services Group Inc. lessened its holdings in Talen Energy Corporation (NASDAQ:TLN – Free Report) by 67.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,106 shares of the utilities provider’s stock after selling 2,241 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Talen Energy were worth $221,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Signaturefd LLC boosted its position in Talen Energy by 310.0% in the 1st quarter. Signaturefd LLC now owns 123 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 93 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Talen Energy during the 1st quarter valued at approximately $35,000. LRI Investments LLC lifted its holdings in Talen Energy by 179.0% in the 1st quarter. LRI Investments LLC now owns 173 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 111 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in Talen Energy in the 1st quarter valued at $35,000. Finally, IFP Advisors Inc lifted its holdings in Talen Energy by 42.4% in the 1st quarter. IFP Advisors Inc now owns 188 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.
Analyst Ratings Changes
A number of analysts have issued reports on the company. Melius Research assumed coverage on Talen Energy in a research note on Wednesday. They issued a “buy” rating and a $427.00 target price for the company. Morgan Stanley raised 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. Melius assumed coverage on Talen Energy in a research note on Wednesday. They set a “buy” rating and a $427.00 target price for the company. Susquehanna reaffirmed an “overweight” rating on shares of Talen Energy in a research report on Thursday, June 12th. Finally, Barclays boosted their target price on Talen Energy from $353.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Sixteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $316.00.
View Our Latest Analysis on TLN
Talen Energy Stock Up 0.3%
Shares of TLN stock traded up $1.0450 during trading hours on Friday, reaching $358.9050. The company had a trading volume of 117,341 shares, compared to its average volume of 1,158,231. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.34 and a current ratio of 1.84. Talen Energy Corporation has a twelve month low of $137.50 and a twelve month high of $394.07. The company has a market capitalization of $16.40 billion, a P/E ratio of 101.69, a price-to-earnings-growth ratio of 2.64 and a beta of 1.90. The stock’s fifty day simple moving average is $322.96 and its 200 day simple moving average is $255.66.
Talen Energy (NASDAQ:TLN – Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.13) by $2.63. Talen Energy had a return on equity of 17.81% and a net margin of 8.75%.The firm had revenue of $630.00 million during the quarter, compared to analyst estimates of $481.48 million. As a group, sell-side analysts expect that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the firm’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 transaction of $52,695,120.00. Following the completion of the sale, the insider owned 5,734,970 shares in the company, valued at $1,697,780,518.80. This trade represents a 3.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 388,530 shares of company stock worth $114,090,933. 0.18% of the stock is owned by company insiders.
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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