Public Employees Retirement System of Ohio Takes Position in Talen Energy Corporation $TLN

Public Employees Retirement System of Ohio bought a new position in Talen Energy Corporation (NASDAQ:TLN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 12,844 shares of the utilities provider’s stock, valued at approximately $4,935,000.

A number of other large investors have also recently made changes to their positions in the company. Advisory Services Network LLC purchased a new position in shares of Talen Energy during the third quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. grew its stake 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 valued at $36,000 after buying an additional 90 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Talen Energy in the second quarter worth approximately $38,000. Bessemer Group Inc. raised its holdings 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 buying an additional 101 shares during the period. Finally, Silvant Capital Management LLC bought a new stake in shares of Talen Energy during the 2nd quarter worth approximately $42,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Stock Performance

Shares of Talen Energy stock opened at $302.03 on Thursday. 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 fifty day moving average price is $350.76 and its 200-day moving average price is $354.82. The firm has a market cap of $14.47 billion, a P/E ratio of -72.43 and a beta of 1.84. Talen Energy Corporation has a 12 month low of $288.58 and a 12 month high of $451.28.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TLN. Weiss Ratings lowered shares of Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 18th. Zacks Research lowered shares of Talen Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. Barclays lowered their price objective on shares of Talen Energy from $411.00 to $408.00 and set an “overweight” rating for the company in a research report on Tuesday, July 28th. Morgan Stanley dropped their target price on shares of Talen Energy from $508.00 to $503.00 and set an “overweight” rating on the stock in a research note on Friday, August 21st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $509.00 target price on shares of Talen Energy in a research report on Monday, August 10th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $466.86.

Insider Buying and Selling at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 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).