Ninepoint Partners LP Buys Shares of 4,409 Talen Energy Corporation $TLN

Ninepoint Partners LP bought a new position in Talen Energy Corporation (NASDAQ:TLN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,409 shares of the utilities provider’s stock, valued at approximately $1,694,000.

Other large investors also recently added to or reduced their stakes in the company. Vise Technologies Inc. acquired a new position in shares of Talen Energy during the 2nd quarter worth $284,000. NewEdge Wealth LLC acquired a new stake in shares of Talen Energy in the 2nd quarter valued at $1,544,000. Diversify Advisory Services LLC bought a new stake in Talen Energy in the second quarter worth $12,228,000. Meeder Advisory Services Inc. bought a new stake in Talen Energy in the second quarter worth $211,000. Finally, NINE MASTS CAPITAL Ltd acquired a new position in Talen Energy during the second quarter worth $961,000. 0.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on TLN shares. BNP Paribas Exane reaffirmed an “outperform” rating and issued a $560.00 price target on shares of Talen Energy in a research report on Wednesday. The Goldman Sachs Group reissued a “buy” rating and issued a $509.00 price objective on shares of Talen Energy in a research note on Monday, August 10th. Jefferies Financial Group decreased their target price on Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Wall Street Zen downgraded Talen Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Scotiabank boosted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $477.58.

Insider Buying and Selling at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction that occurred 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 sale, the director directly owned 2,606 shares of the company’s stock, valued at approximately $990,280. This represents a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.78% of the company’s stock.

Talen Energy Price Performance

NASDAQ TLN opened at $316.99 on Friday. The stock has a 50-day simple moving average of $370.07 and a 200 day simple moving average of $357.47. Talen Energy Corporation has a twelve month low of $301.45 and a twelve month high of $451.28. The stock has a market capitalization of $15.19 billion, a PE ratio of -76.02 and a beta of 1.90. The company has a debt-to-equity ratio of 5.82, a quick ratio of 0.55 and a current ratio of 0.78.

Talen Energy (NASDAQ:TLN) last released its earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.21 by ($5.21). The business had revenue of $747.00 million during the quarter, compared to analyst estimates of $832.81 million. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. Research analysts anticipate that Talen Energy Corporation will post 25.07 EPS for the current year.

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).