Strs Ohio Increases Stock Holdings in Talen Energy Corporation $TLN

Strs Ohio boosted its stake in Talen Energy Corporation (NASDAQ:TLN) by 39.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,085 shares of the utilities provider’s stock after acquiring an additional 3,998 shares during the period. Strs Ohio’s holdings in Talen Energy were worth $4,496,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC bought a new stake in shares of Talen Energy during the 4th quarter valued at about $27,000. Neo Ivy Capital Management purchased a new position in shares of Talen Energy during the third quarter valued at about $34,000. Advisory Services Network LLC bought a new position in Talen Energy in the third quarter worth about $35,000. Northwestern Mutual Wealth Management Co. raised its stake in Talen Energy by 1,500.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after buying an additional 90 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Talen Energy in the fourth quarter worth about $39,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the sale, the director directly 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 SEC, which can be accessed through this hyperlink. Company insiders own 0.78% of the company’s stock.

Talen Energy Stock Down 1.8%

TLN stock traded down $6.83 on Tuesday, reaching $370.96. 52,067 shares of the company traded hands, compared to its average volume of 834,101. Talen Energy Corporation has a one year low of $255.50 and a one year high of $451.28. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05. The company has a market cap of $17.77 billion, a P/E ratio of -550.21 and a beta of 1.82. The firm has a fifty day simple moving average of $377.34 and a 200-day simple moving average of $361.63.

Wall Street Analyst Weigh In

Several research firms have weighed in on TLN. Wells Fargo & Company lifted their price objective on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. BNP Paribas Exane assumed coverage on Talen Energy in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 target price for the company. Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Jefferies Financial Group cut Talen Energy from a “buy” rating to a “hold” rating and set a $453.00 price target on the stock. in a research note on Tuesday, June 23rd. Finally, The Goldman Sachs Group initiated coverage on Talen Energy in a report on Thursday, June 18th. They issued a “buy” rating and a $499.00 price objective for the company. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $458.77.

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).