Elevation Point Wealth Partners LLC Has $2.51 Million Position in Talen Energy Corporation $TLN

Elevation Point Wealth Partners LLC increased its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 31.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,630 shares of the utilities provider’s stock after purchasing an additional 2,062 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Talen Energy were worth $2,509,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc grew its stake in shares of Talen Energy by 42.4% during the first quarter. IFP Advisors Inc now owns 188 shares of the utilities provider’s stock worth $38,000 after buying an additional 56 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Talen Energy during the 1st quarter valued at $470,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Talen Energy by 202.7% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 8,133 shares of the utilities provider’s stock worth $1,624,000 after acquiring an additional 5,446 shares during the last quarter. Avantax Advisory Services Inc. acquired a new position in Talen Energy in the 1st quarter worth about $309,000. Finally, Cetera Investment Advisers raised its position in Talen Energy by 39.2% in the first quarter. Cetera Investment Advisers now owns 3,384 shares of the utilities provider’s stock valued at $676,000 after purchasing an additional 953 shares during the last quarter. Institutional investors own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TLN. Melius began coverage on Talen Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $427.00 price target on the stock. Scotiabank initiated coverage on shares of Talen Energy in a research report on Monday, September 22nd. They set a “sector perform” rating and a $418.00 target price on the stock. Wall Street Zen upgraded shares of Talen Energy from a “sell” rating to a “hold” rating in a research report on Monday, August 11th. Evercore ISI raised their price target on shares of Talen Energy from $410.00 to $450.00 and gave the company an “outperform” rating in a research note on Tuesday, September 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Talen Energy from $432.00 to $442.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Talen Energy has a consensus rating of “Moderate Buy” and a consensus price target of $395.07.

Talen Energy Stock Up 3.5%

Talen Energy stock opened at $392.42 on Thursday. The firm has a market cap of $17.93 billion, a price-to-earnings ratio of 84.94, a PEG ratio of 2.06 and a beta of 1.83. Talen Energy Corporation has a 52-week low of $158.08 and a 52-week high of $451.28. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.72 and a current ratio of 2.29. The firm has a 50 day moving average price of $402.89 and a two-hundred day moving average price of $346.91.

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 the consensus estimate of $4.01 by $0.24. The company had revenue of $812.00 million during the quarter, compared to analysts’ expectations of $707.90 million. Talen Energy had a net margin of 9.83% and a return on equity of 13.52%. Talen Energy’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.16 earnings per share. Equities analysts predict that Talen Energy Corporation will post 15.94 EPS for the current year.

Talen Energy Profile

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.