Empowered Funds LLC Increases Stake in Talen Energy Corporation $TLN

Empowered Funds LLC raised its stake in Talen Energy Corporation (NASDAQ:TLN) by 24.9% in the first quarter, HoldingsChannel reports. The fund owned 38,070 shares of the utilities provider’s stock after purchasing an additional 7,581 shares during the period. Empowered Funds LLC’s holdings in Talen Energy were worth $12,153,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new stake in shares of Talen Energy during the 4th quarter worth approximately $27,000. Advisory Services Network LLC purchased a new position in shares of Talen Energy during the 3rd quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Talen Energy by 1,500.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 90 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Talen Energy during the fourth quarter worth $39,000. Finally, Bessemer Group Inc. boosted its holdings in 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 buying an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Insider Transactions at Talen Energy

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction 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 transaction, the director directly owned 2,606 shares of the company’s stock, valued at $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.78% of the stock is currently owned by insiders.

Talen Energy Price Performance

Talen Energy stock opened at $316.19 on Thursday. The stock has a market capitalization of $15.15 billion, a P/E ratio of -471.92 and a beta of 1.82. The company’s fifty day moving average price is $379.35 and its 200 day moving average price is $360.63. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. Talen Energy Corporation has a 1 year low of $301.45 and a 1 year high of $451.28.

Analyst Ratings Changes

A number of research firms have weighed in on TLN. The Goldman Sachs Group began coverage on shares of Talen Energy in a report on Thursday, June 18th. They issued a “buy” rating and a $499.00 price objective for the company. Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Scotiabank raised their target price on Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 15th. Morgan Stanley restated an “overweight” rating and issued a $508.00 price target on shares of Talen Energy in a research note on Wednesday, June 24th. Finally, Wells Fargo & Company upped their price target on Talen Energy from $477.00 to $482.00 and gave the stock an “overweight” rating in a report on Monday. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Talen Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $476.45.

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).