Thornburg Investment Management Inc. Cuts Stake in Talen Energy Corporation $TLN

Thornburg Investment Management Inc. lowered its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 2.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 44,139 shares of the utilities provider’s stock after selling 1,004 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Talen Energy were worth $12,834,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Brooklyn Investment Group bought a new position in shares of Talen Energy during the first quarter worth $25,000. Atlantic Union Bankshares Corp bought a new stake in Talen Energy in the 2nd quarter valued at $27,000. MAI Capital Management lifted its stake in Talen Energy by 115.7% in the 2nd quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 59 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Talen Energy in the 1st quarter worth $35,000. Finally, IFP Advisors Inc boosted its holdings in shares of Talen Energy by 42.4% during 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 during the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Analysts Set New Price Targets

TLN has been the topic of several research reports. Wall Street Zen raised Talen Energy from a “sell” rating to a “hold” rating in a report on Monday, August 11th. Melius Research raised their price target on Talen Energy from $427.00 to $576.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Zacks Research cut Talen Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 18th. Scotiabank began coverage on Talen Energy in a research report on Monday, September 22nd. They set a “sector perform” rating and a $418.00 target price for the company. Finally, Melius initiated coverage on shares of Talen Energy in a research report on Wednesday, August 20th. They issued a “buy” rating and a $427.00 price target on the stock. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $395.07.

Talen Energy Trading Down 0.4%

Shares of TLN stock opened at $378.99 on Wednesday. The company has a market cap of $17.32 billion, a PE ratio of 82.03, a price-to-earnings-growth ratio of 2.07 and a beta of 1.83. Talen Energy Corporation has a 1 year low of $158.08 and a 1 year high of $451.28. The stock’s 50 day simple moving average is $403.21 and its two-hundred day simple moving average is $346.59. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.29 and a quick ratio of 1.72.

Talen Energy (NASDAQ:TLN) last released its earnings results on Wednesday, November 5th. The utilities provider reported $4.25 earnings per share for the quarter, beating the consensus estimate of $4.01 by $0.24. Talen Energy had a return on equity of 13.52% and a net margin of 9.83%.The firm had revenue of $812.00 million for the quarter, compared to the consensus estimate of $707.90 million. During the same quarter in the previous year, the company posted $3.16 EPS. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. Research analysts predict that Talen Energy Corporation will post 15.94 earnings per share for the current 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.