Talen Energy Corporation $TLN Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,456 shares of the utilities provider’s stock after selling 1,403 shares during the quarter. California Public Employees Retirement System owned about 0.16% of Talen Energy worth $23,769,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of TLN. Catalyst Capital Advisors LLC purchased a new stake in shares of Talen Energy during the first quarter worth approximately $985,000. Bessemer Group Inc. lifted its holdings in shares of Talen Energy by 404.0% during the first quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 101 shares during the period. Independent Financial Group LLC purchased a new position in Talen Energy in the 1st quarter valued at $592,000. D.A. Davidson & CO. acquired a new position in Talen Energy in the 1st quarter valued at $758,000. Finally, Bank of New York Mellon Corp increased its stake in Talen Energy by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 300,578 shares of the utilities provider’s stock valued at $95,953,000 after buying an additional 1,643 shares during the period. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Wells Fargo & Company boosted their price target on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Morgan Stanley restated an “overweight” rating and issued a $508.00 price objective on shares of Talen Energy in a research report on Wednesday, June 24th. Jefferies Financial Group lowered their price objective on Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a report on Monday. Finally, Barclays boosted their target price on Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $472.50.

Talen Energy Stock Performance

Shares of TLN opened at $377.41 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32. Talen Energy Corporation has a 52-week low of $301.45 and a 52-week high of $451.28. The company has a 50-day simple moving average of $378.19 and a 200-day simple moving average of $361.95. The company has a market capitalization of $18.08 billion, a PE ratio of -563.29 and a beta of 1.82.

Insiders Place Their Bets

In other Talen Energy 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 value of $988,000.00. Following the completion of the transaction, the director directly owned 2,606 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Insiders own 0.78% of the company’s stock.

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).