Absolute Gestao de Investimentos Ltda. Purchases New Shares in Talen Energy Corporation $TLN

Absolute Gestao de Investimentos Ltda. purchased a new stake in shares of Talen Energy Corporation (NASDAQ:TLN) during the first quarter, Holdings Channel.com reports. The fund purchased 16,950 shares of the utilities provider’s stock, valued at approximately $3,384,000. Talen Energy accounts for approximately 1.4% of Absolute Gestao de Investimentos Ltda.’s portfolio, making the stock its 13th largest position.

Other large investors also recently made changes to their positions in the company. Signaturefd LLC lifted its position in shares of Talen Energy by 310.0% during the first quarter. Signaturefd LLC now owns 123 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 93 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Talen Energy during the first quarter worth about $25,000. Golden State Wealth Management LLC purchased a new stake in Talen Energy during the first quarter worth about $35,000. LRI Investments LLC increased its holdings in Talen Energy by 179.0% during the first quarter. LRI Investments LLC now owns 173 shares of the utilities provider’s stock worth $35,000 after buying an additional 111 shares during the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new stake in Talen Energy during the first quarter worth about $35,000. 0.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Barclays restated an “overweight” rating and set a $418.00 price objective (up previously from $353.00) on shares of Talen Energy in a report on Wednesday. Morgan Stanley raised their price objective on shares of Talen Energy from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Susquehanna restated an “overweight” rating on shares of Talen Energy in a report on Thursday, June 12th. UBS Group set a $431.00 price objective on shares of Talen Energy and gave the stock a “buy” rating in a report on Friday, July 25th. Finally, Wall Street Zen upgraded shares of Talen Energy from a “sell” rating to a “hold” rating in a report on Monday, August 11th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Talen Energy has an average rating of “Moderate Buy” and a consensus price target of $297.50.

Insider Buying and Selling

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the business’s stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the completion of the transaction, the insider owned 5,734,970 shares of the company’s stock, valued at approximately $1,697,780,518.80. The trade was a 3.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 388,530 shares of company stock worth $114,090,933 over the last three months.

Talen Energy Price Performance

TLN opened at $377.82 on Monday. The company has a market capitalization of $17.26 billion, a price-to-earnings ratio of 107.03, a PEG ratio of 2.78 and a beta of 1.90. The company has a quick ratio of 1.34, a current ratio of 1.84 and a debt-to-equity ratio of 2.39. The firm has a 50-day moving average price of $314.94 and a 200-day moving average price of $252.17. Talen Energy Corporation has a twelve month low of $131.31 and a twelve month high of $394.07.

Talen Energy (NASDAQ:TLN) last posted its earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share for the quarter, topping the consensus estimate of ($1.13) by $2.63. The firm had revenue of $630.00 million during the quarter, compared to the consensus estimate of $481.48 million. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. Equities analysts expect that Talen Energy Corporation will post 15.94 EPS for the current year.

Talen Energy Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.