Talen Energy Corporation $TLN Shares Purchased by State of Wyoming

State of Wyoming raised its holdings in Talen Energy Corporation (NASDAQ:TLN) by 86.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,466 shares of the utilities provider’s stock after purchasing an additional 1,604 shares during the quarter. State of Wyoming’s holdings in Talen Energy were worth $1,106,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its stake in shares of Talen Energy by 1.4% during the 1st quarter. Cetera Investment Advisers now owns 7,817 shares of the utilities provider’s stock worth $2,495,000 after buying an additional 109 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Talen Energy by 5.7% in the 1st quarter. First Trust Advisors LP now owns 61,815 shares of the utilities provider’s stock valued at $19,733,000 after buying an additional 3,327 shares during the period. Himension Capital Singapore PTE. LTD. purchased a new stake in shares of Talen Energy in the first quarter valued at approximately $524,000. PNC Financial Services Group Inc. boosted its stake in shares of Talen Energy by 8.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,014 shares of the utilities provider’s stock valued at $643,000 after buying an additional 152 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Talen Energy by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 110,025 shares of the utilities provider’s stock worth $35,110,000 after acquiring an additional 3,654 shares during the period. Institutional investors and hedge funds own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TLN. Raymond James Financial reissued an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a report on Monday, April 27th. Scotiabank upped their price target on shares of Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 15th. Barclays increased their price target on shares of Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. The Goldman Sachs Group started coverage on shares of Talen Energy in a research note on Thursday, June 18th. They issued a “buy” rating and a $499.00 price objective for the company. Finally, Jefferies Financial Group decreased their price objective on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a report on Monday. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Talen Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $472.50.

Insider Buying and Selling at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the transaction, the director owned 2,606 shares in the company, valued at $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.78% of the stock is currently owned by corporate insiders.

Talen Energy Stock Performance

Shares of TLN stock opened at $377.41 on Thursday. The stock has a fifty day moving average price of $378.19 and a 200 day moving average price of $361.95. The stock has a market cap of $18.08 billion, a PE ratio of -563.29 and a beta of 1.82. Talen Energy Corporation has a 1 year low of $301.45 and a 1 year high of $451.28. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25.

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).