Mirae Asset Global Investments Co. Ltd. Has $295,000 Stock Position in Talen Energy Corporation $TLN

Mirae Asset Global Investments Co. Ltd. grew its position in Talen Energy Corporation (NASDAQ:TLN) by 789.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,014 shares of the utilities provider’s stock after buying an additional 900 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Talen Energy were worth $295,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TLN. Third Point LLC acquired a new position in shares of Talen Energy in the 1st quarter valued at $116,807,000. Fred Alger Management LLC grew its holdings in shares of Talen Energy by 56.3% in the 1st quarter. Fred Alger Management LLC now owns 1,492,145 shares of the utilities provider’s stock valued at $297,937,000 after buying an additional 537,398 shares during the period. PointState Capital LP acquired a new position in shares of Talen Energy in the 1st quarter valued at $75,148,000. Assenagon Asset Management S.A. acquired a new position in Talen Energy in the 2nd quarter worth $91,239,000. Finally, Ameriprise Financial Inc. boosted its stake in Talen Energy by 6,621.1% in the 1st quarter. Ameriprise Financial Inc. now owns 303,661 shares of the utilities provider’s stock worth $60,638,000 after purchasing an additional 299,143 shares during the period. Institutional investors and hedge funds own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Talen Energy in a research note on Wednesday. Oppenheimer set a $315.00 target price on shares of Talen Energy and gave the stock an “outperform” rating in a research note on Friday, July 11th. Wall Street Zen raised shares of Talen Energy from a “sell” rating to a “hold” rating in a research note on Monday, August 11th. Scotiabank assumed coverage on shares of Talen Energy in a research note on Monday, September 22nd. They issued a “sector perform” rating and a $418.00 target price for the company. Finally, Evercore ISI upped their target price on shares of Talen Energy from $410.00 to $450.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 9th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Talen Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $376.85.

Talen Energy Trading Down 7.1%

Talen Energy stock opened at $412.83 on Friday. The firm has a 50-day moving average of $396.79 and a 200-day moving average of $302.77. Talen Energy Corporation has a one year low of $148.02 and a one year high of $451.28. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.84 and a quick ratio of 1.34. The company has a market cap of $18.86 billion, a price-to-earnings ratio of 116.95, a P/E/G ratio of 2.39 and a beta of 1.88.

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

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.