Dockside LLC Purchases New Shares in Talen Energy Corporation $TLN

Dockside LLC bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the second quarter, Holdings Channel.com reports. The firm bought 4,986 shares of the utilities provider’s stock, valued at approximately $1,916,000.

Several other large investors have also made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in Talen Energy in the third quarter worth about $35,000. Northwestern Mutual Wealth Management Co. boosted 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 last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Talen Energy during the 4th quarter worth approximately $39,000. Bessemer Group Inc. grew its position in shares of Talen Energy by 404.0% during the 1st quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock worth $41,000 after buying an additional 101 shares during the period. Finally, Rothschild Investment LLC raised its stake in shares of Talen Energy by 235.0% during the fourth quarter. Rothschild Investment LLC now owns 134 shares of the utilities provider’s stock worth $50,000 after buying an additional 94 shares during the last quarter. Institutional investors and hedge funds own 0.38% of the company’s stock.

Insider Activity at Talen Energy

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the company’s 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 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 SEC, which is available through this hyperlink. Insiders own 0.78% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on TLN shares. Wells Fargo & Company raised their price objective on shares of Talen Energy from $482.00 to $501.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Talen Energy in a research note on Tuesday, August 4th. Barclays reduced their price target on Talen Energy from $411.00 to $408.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 28th. Jefferies Financial Group dropped their price objective on Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a report on Monday, July 20th. Finally, Zacks Research raised Talen Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Talen Energy presently has an average rating of “Moderate Buy” and an average target price of $476.58.

Talen Energy Trading Up 1.2%

TLN opened at $362.74 on Friday. The stock has a market capitalization of $17.38 billion, a P/E ratio of -86.99 and a beta of 1.90. The company has a current ratio of 0.78, a quick ratio of 0.55 and a debt-to-equity ratio of 5.82. Talen Energy Corporation has a 12 month low of $301.45 and a 12 month high of $451.28. The firm’s fifty day simple moving average is $371.89 and its 200 day simple moving average is $358.27.

Talen Energy (NASDAQ:TLN) last announced 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). Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. The firm had revenue of $747.00 million during the quarter, compared to analyst estimates of $832.81 million. As a group, research analysts anticipate that Talen Energy Corporation will post 25.07 EPS for the current fiscal year.

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).