Pallas Capital Advisors LLC Takes Position in Talen Energy Corporation $TLN

Pallas Capital Advisors LLC acquired a new stake in Talen Energy Corporation (NASDAQ:TLN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 993 shares of the utilities provider’s stock, valued at approximately $289,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in shares of Talen Energy by 75.8% in the 1st quarter. Russell Investments Group Ltd. now owns 17,502 shares of the utilities provider’s stock valued at $3,495,000 after buying an additional 7,547 shares during the period. Crescent Grove Advisors LLC acquired a new position in Talen Energy during the first quarter worth approximately $285,000. Thoroughbred Financial Services LLC acquired a new position in Talen Energy during the first quarter worth approximately $756,000. TCW Group Inc. acquired a new position in Talen Energy during the first quarter worth approximately $9,266,000. Finally, Principal Financial Group Inc. increased its position in Talen Energy by 114.9% during the first quarter. Principal Financial Group Inc. now owns 3,591 shares of the utilities provider’s stock worth $717,000 after buying an additional 1,920 shares during the period. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Up 2.0%

TLN opened at $423.56 on Monday. The business’s fifty day moving average is $366.86 and its two-hundred day moving average is $280.43. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.34 and a current ratio of 1.84. The company has a market cap of $19.35 billion, a price-to-earnings ratio of 119.99, a PEG ratio of 2.24 and a beta of 1.89. Talen Energy Corporation has a one year low of $148.02 and a one year high of $427.07.

Talen Energy (NASDAQ:TLN) last posted its earnings results on Thursday, August 7th. The utilities provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of ($1.13) by $2.63. The company had revenue of $630.00 million for the quarter, compared to the consensus estimate of $481.48 million. Talen Energy had a return on equity of 17.81% and a net margin of 8.75%. Analysts anticipate that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the company’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $296.04, for a total value of $52,695,120.00. Following the sale, the insider directly owned 5,734,970 shares in the company, valued at $1,697,780,518.80. This represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 388,530 shares of company stock valued at $114,090,933 in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have commented on TLN shares. UBS Group set a $431.00 price target on Talen Energy and gave the stock a “buy” rating in a research report on Friday, July 25th. Oppenheimer set a $315.00 price target on Talen Energy and gave the stock an “outperform” rating in a research report on Friday, July 11th. Susquehanna reissued an “overweight” rating on shares of Talen Energy in a report on Thursday, June 12th. Morgan Stanley boosted their target price on Talen Energy from $330.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, September 10th. Finally, Barclays boosted their target price on Talen Energy from $418.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Fifteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Talen Energy presently has an average rating of “Moderate Buy” and an average price target of $354.29.

Talen Energy Company Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.