Talen Energy Corporation $TLN Shares Purchased by Formidable Asset Management LLC

Formidable Asset Management LLC raised its holdings in Talen Energy Corporation (NASDAQ:TLN) by 38.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,641 shares of the utilities provider’s stock after buying an additional 1,293 shares during the quarter. Formidable Asset Management LLC’s holdings in Talen Energy were worth $1,482,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TLN. Fred Alger Management LLC lifted its holdings in shares of Talen Energy by 8.4% during the 4th quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider’s stock worth $676,247,000 after acquiring an additional 140,345 shares during the period. Reaves W H & Co. Inc. grew its holdings in Talen Energy by 7.9% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock valued at $570,393,000 after purchasing an additional 111,160 shares during the period. Invesco Ltd. increased its position in Talen Energy by 35.6% during the fourth quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider’s stock worth $540,287,000 after purchasing an additional 378,357 shares during the last quarter. State Street Corp increased its position in Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after purchasing an additional 627,467 shares during the last quarter. Finally, Lone Pine Capital LLC raised its stake in Talen Energy by 9.5% during the third quarter. Lone Pine Capital LLC now owns 1,192,516 shares of the utilities provider’s stock worth $507,272,000 after purchasing an additional 103,136 shares during the period. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Stock Performance

NASDAQ TLN opened at $404.09 on Monday. Talen Energy Corporation has a one year low of $255.50 and a one year high of $451.28. The company’s 50 day moving average price is $374.08 and its 200 day moving average price is $361.03. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. The firm has a market capitalization of $19.36 billion, a price-to-earnings ratio of -603.11 and a beta of 1.81.

Analysts Set New Price Targets

A number of brokerages have weighed in on TLN. Jefferies Financial Group lowered shares of Talen Energy from a “buy” rating to a “hold” rating and set a $453.00 price target on the stock. in a report on Tuesday, June 23rd. Morgan Stanley restated an “overweight” rating and set a $508.00 price objective on shares of Talen Energy in a report on Wednesday. BNP Paribas Exane assumed coverage on Talen Energy in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 target price on the stock. Barclays lifted their target price on Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $458.77.

Insider Transactions at Talen Energy

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the business’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 transaction of $988,000.00. Following the completion of the sale, the director directly owned 2,606 shares in the company, valued at $990,280. The trade was a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.78% of the stock is currently owned by corporate insiders.

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).