Pacer Advisors Inc. Acquires New Position in Talen Energy Corporation $TLN

Pacer Advisors Inc. acquired a new stake in shares of Talen Energy Corporation (NASDAQ:TLN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,070 shares of the utilities provider’s stock, valued at approximately $2,582,000.

A number of other large investors have also recently modified their holdings of TLN. Atlantic Union Bankshares Corp acquired a new position in shares of Talen Energy during the 2nd quarter worth $27,000. MAI Capital Management boosted its stake in Talen Energy by 115.7% in the second quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock valued at $32,000 after buying an additional 59 shares in the last quarter. Grove Bank & Trust bought a new position in Talen Energy in the third quarter valued at about $32,000. Golden State Wealth Management LLC raised its stake in Talen Energy by 5,100.0% during the second quarter. Golden State Wealth Management LLC now owns 156 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 153 shares in the last quarter. Finally, Berbice Capital Management LLC acquired a new position in Talen Energy during the second quarter worth about $49,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Melius Research lifted their price target on shares of Talen Energy from $427.00 to $576.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Scotiabank assumed coverage on shares of Talen Energy in a research note on Monday, September 22nd. They set a “sector perform” rating and a $418.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Talen Energy in a report on Wednesday, October 8th. Evercore ISI boosted their price objective on Talen Energy from $410.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 9th. Finally, Morgan Stanley reissued an “overweight” rating and set a $443.00 price target on shares of Talen Energy in a research note on Tuesday, December 16th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $395.21.

Talen Energy Stock Down 0.3%

Shares of NASDAQ:TLN opened at $378.97 on Wednesday. The firm has a market cap of $17.32 billion, a P/E ratio of 82.03, a P/E/G ratio of 2.50 and a beta of 1.89. Talen Energy Corporation has a 12-month low of $158.08 and a 12-month high of $451.28. The business has a fifty day simple moving average of $378.19 and a 200 day simple moving average of $367.94. The company has a quick ratio of 1.72, a current ratio of 2.29 and a debt-to-equity ratio of 2.02.

Talen Energy (NASDAQ:TLN) last issued its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $4.25 earnings per share for the quarter, beating 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 return on equity of 13.52% and a net margin of 9.83%.The business’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.16 earnings per share. Analysts predict that Talen Energy Corporation will post 15.94 earnings per share for the current year.

About Talen Energy

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).