NINE MASTS CAPITAL Ltd Invests $961,000 in Talen Energy Corporation $TLN

NINE MASTS CAPITAL Ltd acquired a new stake in Talen Energy Corporation (NASDAQ:TLN) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,500 shares of the utilities provider’s stock, valued at approximately $961,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Talen Energy in the second quarter valued at approximately $1,673,803,000. Fred Alger Management LLC lifted its position in shares of Talen Energy by 8.4% during the 4th quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider’s stock worth $676,247,000 after buying an additional 140,345 shares during the last quarter. Reaves W H & Co. Inc. boosted its holdings in shares of Talen Energy by 7.9% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock valued at $570,393,000 after buying an additional 111,160 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Talen Energy by 35.6% in the 4th quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider’s stock valued at $540,287,000 after buying an additional 378,357 shares in the last quarter. Finally, State Street Corp grew its position in shares of 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 buying an additional 627,467 shares during the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Trading Down 1.6%

NASDAQ:TLN opened at $356.92 on Tuesday. The firm has a market cap of $17.10 billion, a P/E ratio of -85.59 and a beta of 1.90. The company has a current ratio of 0.78, a quick ratio of 0.55 and a debt-to-equity ratio of 5.82. The stock’s 50 day simple moving average is $371.73 and its 200-day simple moving average is $358.31. Talen Energy Corporation has a 12-month low of $301.45 and a 12-month high of $451.28.

Talen Energy (NASDAQ:TLN) last issued its quarterly earnings results 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 positive return on equity of 43.32% and a negative net margin of 5.38%.The company had revenue of $747.00 million for the quarter, compared to analyst estimates of $832.81 million. Equities analysts anticipate that Talen Energy Corporation will post 25.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TLN. Barclays cut their price target on shares of Talen Energy from $411.00 to $408.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Talen Energy in a report on Tuesday, August 4th. Morgan Stanley reiterated an “overweight” rating and set a $508.00 target price on shares of Talen Energy in a research report on Wednesday, June 24th. Scotiabank boosted their target price on Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a report on Wednesday, July 15th. Finally, Zacks Research raised Talen Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $476.58.

Insider Buying and Selling

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 transaction, the director owned 2,606 shares in the company, valued at approximately $990,280. This represents a 49.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.78% of the company’s stock.

Talen Energy 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).