Allspring Global Investments Holdings LLC Makes New $29.46 Million Investment in Talen Energy Corporation (NASDAQ:TLN)

Allspring Global Investments Holdings LLC purchased a new stake in Talen Energy Corporation (NASDAQ:TLN) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 165,305 shares of the utilities provider’s stock, valued at approximately $29,464,000.

Separately, Shikiar Asset Management Inc. acquired a new position in shares of Talen Energy during the second quarter worth $278,000. Institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Up 1.1 %

Shares of TLN opened at $183.07 on Thursday. Talen Energy Corporation has a 12-month low of $52.01 and a 12-month high of $197.61. The business’s fifty day moving average is $123.90 and its 200 day moving average is $99.00. The company has a current ratio of 4.51, a quick ratio of 3.86 and a debt-to-equity ratio of 1.02.

Talen Energy (NASDAQ:TLN) last issued its quarterly earnings data on Tuesday, August 13th. The utilities provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($1.14) by $1.33. Talen Energy had a return on equity of 2.27% and a net margin of 41.79%. The firm had revenue of $489.00 million during the quarter, compared to analyst estimates of $437.50 million. On average, research analysts predict that Talen Energy Corporation will post 13.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TLN shares. Barclays cut their price objective on Talen Energy from $207.00 to $202.00 and set an “overweight” rating on the stock in a report on Monday. Guggenheim raised their target price on Talen Energy from $219.00 to $246.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Jefferies Financial Group assumed coverage on shares of Talen Energy in a research note on Friday, September 13th. They issued a “buy” rating and a $226.00 price objective on the stock. Royal Bank of Canada assumed coverage on Talen Energy in a research report on Thursday, September 26th. They set an “outperform” rating and a $233.00 target price on the stock. Finally, Oppenheimer lifted their price objective on shares of Talen Energy from $165.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $205.33.

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.