Spirit of America Management Corp NY Increases Stock Position in Talen Energy Corporation $TLN

Spirit of America Management Corp NY raised its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 54.2% in the 3rd quarter, Holdings Channel reports. The firm owned 10,100 shares of the utilities provider’s stock after acquiring an additional 3,550 shares during the period. Spirit of America Management Corp NY’s holdings in Talen Energy were worth $4,296,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Deutsche Bank AG lifted its position in shares of Talen Energy by 13.2% in the first quarter. Deutsche Bank AG now owns 1,789 shares of the utilities provider’s stock worth $357,000 after buying an additional 208 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Talen Energy in the 1st quarter worth approximately $240,000. Itau Unibanco Holding S.A. raised its holdings in shares of Talen Energy by 147.7% during the 1st quarter. Itau Unibanco Holding S.A. now owns 5,200 shares of the utilities provider’s stock worth $1,038,000 after acquiring an additional 3,101 shares in the last quarter. Situational Awareness LP boosted its position in shares of Talen Energy by 6.9% during the 1st quarter. Situational Awareness LP now owns 148,395 shares of the utilities provider’s stock valued at $29,630,000 after acquiring an additional 9,517 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in shares of Talen Energy in the first quarter valued at $51,000. 0.38% of the stock is owned by institutional investors.

Talen Energy Price Performance

TLN stock opened at $373.55 on Friday. Talen Energy Corporation has a 12 month low of $158.08 and a 12 month high of $451.28. The company has a current ratio of 2.29, a quick ratio of 1.72 and a debt-to-equity ratio of 2.02. The company has a 50-day moving average price of $379.22 and a 200 day moving average price of $364.18. The stock has a market cap of $17.07 billion, a PE ratio of 80.86, a P/E/G ratio of 2.52 and a beta of 1.89.

Talen Energy (NASDAQ:TLN) last posted its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. The company had revenue of $812.00 million for the quarter, compared to analyst estimates of $707.90 million. Talen Energy had a net margin of 9.83% and a return on equity of 13.52%. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.16 EPS. Equities research analysts anticipate that Talen Energy Corporation will post 15.94 earnings per share for the current year.

Analysts Set New Price Targets

TLN has been the topic of several research reports. Wells Fargo & Company reduced their price target on shares of Talen Energy from $453.00 to $445.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Evercore ISI upped their target price on shares of Talen Energy from $410.00 to $450.00 and gave the company an “outperform” rating in a research report on Tuesday, September 9th. JPMorgan Chase & Co. increased their price target on shares of Talen Energy from $432.00 to $442.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Morgan Stanley reissued an “overweight” rating and set a $443.00 price objective on shares of Talen Energy in a research note on Tuesday, December 16th. Finally, Zacks Research downgraded Talen Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 18th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Talen Energy currently has an average rating of “Moderate Buy” and a consensus price target of $395.21.

About Talen Energy

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).