Connor Clark & Lunn Investment Management Ltd. Purchases New Stake in Talen Energy Corporation $TLN

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Talen Energy Corporation (NASDAQ:TLN) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 15,869 shares of the utilities provider’s stock, valued at approximately $6,098,000.

A number of other large investors have also added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new position in shares of Talen Energy in the third quarter valued at about $35,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Talen Energy by 1,500.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 90 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Talen Energy during the second quarter worth about $38,000. Silvant Capital Management LLC bought a new stake in shares of Talen Energy in the second quarter worth about $42,000. Finally, Bessemer Group Inc. grew its stake in shares of Talen Energy by 404.0% in the first quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 101 shares during the last quarter. Institutional investors own 0.38% of the company’s stock.

Talen Energy Price Performance

Shares of NASDAQ TLN opened at $304.58 on Friday. Talen Energy Corporation has a 1 year low of $300.51 and a 1 year high of $451.28. 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 company’s 50-day moving average is $360.85 and its 200 day moving average is $356.56. The stock has a market capitalization of $14.59 billion, a P/E ratio of -73.04 and a beta of 1.90.

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

Insider Buying and Selling at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the transaction, the director owned 2,606 shares of the company’s stock, valued at approximately $990,280. This represents a 49.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.78% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on TLN shares. Wall Street Zen lowered Talen Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Susquehanna set a $449.00 price objective on Talen Energy in a research report on Friday, August 7th. The Goldman Sachs Group reissued a “buy” rating and set a $509.00 target price on shares of Talen Energy in a research note on Monday, August 10th. Weiss Ratings downgraded Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 18th. Finally, New Street Research set a $405.00 target price on Talen Energy in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Talen Energy currently has a consensus rating of “Moderate Buy” and an average 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).