Canada Pension Plan Investment Board Invests $21 Million in Talen Energy Corporation $TLN

Canada Pension Plan Investment Board acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN) in the 2nd quarter, HoldingsChannel reports. The firm acquired 54,660 shares of the utilities provider’s stock, valued at approximately $21,004,000.

A number of other institutional investors also recently modified their holdings of TLN. BlackRock Inc. acquired a new position in shares of Talen Energy in the 2nd quarter worth approximately $1,673,803,000. MFN Partners Management LP acquired a new stake in Talen Energy during the 2nd quarter valued at $1,152,780,000. State Street Corp raised its position in Talen Energy by 88.2% in the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after purchasing an additional 627,467 shares during the last quarter. Norges Bank bought a new position in Talen Energy in the 4th quarter valued at $225,930,000. Finally, Two Seas Capital LP acquired a new position in Talen Energy in the second quarter worth $194,900,000. Institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Down 2.8%

Shares of NASDAQ:TLN opened at $296.11 on Friday. The company has a debt-to-equity ratio of 5.82, a current ratio of 0.78 and a quick ratio of 0.55. The stock has a market cap of $14.19 billion, a price-to-earnings ratio of -71.01 and a beta of 1.90. The company has a 50 day moving average of $358.05 and a 200-day moving average of $356.13. Talen Energy Corporation has a one year low of $294.75 and a one year high of $451.28.

Talen Energy (NASDAQ:TLN) last announced its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing the consensus estimate of $3.21 by ($5.21). Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. The business had revenue of $747.00 million during the quarter, compared to analyst estimates of $832.81 million. On average, sell-side analysts forecast that Talen Energy Corporation will post 21.99 earnings per share for the current year.

Insider Activity at Talen Energy

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the sale, the director owned 2,606 shares in the company, valued at approximately $990,280. The trade was a 49.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.78% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on TLN. BNP Paribas Exane restated an “outperform” rating and set a $560.00 target price on shares of Talen Energy in a report on Wednesday, August 19th. Mizuho started coverage on Talen Energy in a report on Monday, August 24th. They issued an “outperform” rating and a $405.00 price target for the company. New Street Research set a $405.00 price target on shares of Talen Energy in a research report on Monday. Zacks Research raised shares of Talen Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, Scotiabank raised their price objective on shares of Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $466.86.

Talen Energy Company Profile

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).