Wellington Management Group LLP Sells 2,848 Shares of Talen Energy Corporation $TLN

Wellington Management Group LLP trimmed its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 1.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 155,866 shares of the utilities provider’s stock after selling 2,848 shares during the period. Wellington Management Group LLP owned about 0.33% of Talen Energy worth $59,893,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TLN. BlackRock Inc. bought a new stake in Talen Energy in the second quarter worth about $1,673,803,000. MFN Partners Management LP purchased a new stake in shares of Talen Energy in the second quarter worth approximately $1,152,780,000. State Street Corp lifted its stake in shares of Talen Energy by 88.2% during the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after acquiring an additional 627,467 shares during the last quarter. Norges Bank bought a new stake in shares of Talen Energy during the 4th quarter worth approximately $225,930,000. Finally, Two Seas Capital LP purchased a new position in Talen Energy during the 2nd quarter valued at $194,900,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on TLN shares. Morgan Stanley cut their price objective on Talen Energy from $508.00 to $503.00 and set an “overweight” rating on the stock in a research report on Friday, August 21st. Zacks Research lowered shares of Talen Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Jefferies Financial Group cut their price target on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a report on Monday, July 20th. Susquehanna set a $449.00 price target on shares of Talen Energy in a research note on Friday, August 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Talen Energy from $482.00 to $501.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Talen Energy has a consensus rating of “Moderate Buy” and a consensus target price of $466.86.

Talen Energy Price Performance

NASDAQ TLN opened at $302.03 on Thursday. The company has a debt-to-equity ratio of 5.82, a quick ratio of 0.55 and a current ratio of 0.78. The firm’s 50 day moving average price is $350.76 and its 200-day moving average price is $354.82. Talen Energy Corporation has a 52-week low of $288.58 and a 52-week high of $451.28. The company has a market cap of $14.47 billion, a PE ratio of -72.43 and a beta of 1.84.

Talen Energy (NASDAQ:TLN) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) 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 the consensus estimate of $832.81 million. Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%. Sell-side analysts forecast that Talen Energy Corporation will post 21.99 EPS for the current fiscal year.

Insider Activity at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the business’s stock in a transaction 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 transaction, the director directly owned 2,606 shares of the company’s stock, valued at approximately $990,280. The trade was a 49.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.78% of the company’s stock.

About Talen Energy

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).