Advisors Asset Management Inc. Purchases 2,497 Shares of Talen Energy Corporation $TLN

Advisors Asset Management Inc. raised its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 203.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,727 shares of the utilities provider’s stock after buying an additional 2,497 shares during the period. Advisors Asset Management Inc.’s holdings in Talen Energy were worth $1,084,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in Talen Energy by 33.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 38,312 shares of the utilities provider’s stock valued at $11,140,000 after acquiring an additional 9,692 shares in the last quarter. Russell Investments Group Ltd. raised its position 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 worth $3,495,000 after acquiring an additional 7,547 shares in the last quarter. Thoroughbred Financial Services LLC bought a new position in shares of Talen Energy in the 1st quarter worth approximately $756,000. Kingswood Wealth Advisors LLC purchased a new position in shares of Talen Energy in the 2nd quarter valued at approximately $478,000. Finally, Avantax Advisory Services Inc. bought a new stake in shares of Talen Energy during the first quarter valued at approximately $309,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Trading Up 0.4%

Shares of TLN stock opened at $394.08 on Monday. The company has a current ratio of 2.29, a quick ratio of 1.72 and a debt-to-equity ratio of 2.02. Talen Energy Corporation has a 12-month low of $158.08 and a 12-month high of $451.28. The stock has a market capitalization of $18.01 billion, a P/E ratio of 85.30, a P/E/G ratio of 2.15 and a beta of 1.89. The firm’s 50 day moving average is $401.85 and its 200 day moving average is $349.80.

Talen Energy (NASDAQ:TLN) last announced its earnings results on Wednesday, November 5th. The utilities provider reported $4.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.01 by $0.24. Talen Energy had a return on equity of 13.52% and a net margin of 9.83%.The business had revenue of $812.00 million for the quarter, compared to analysts’ expectations of $707.90 million. During the same period last year, the firm posted $3.16 earnings per share. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. Research analysts expect that Talen Energy Corporation will post 15.94 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on TLN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Talen Energy in a report on Wednesday, October 8th. Melius Research upped their target price on shares of Talen Energy from $427.00 to $576.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Barclays lowered their price target on shares of Talen Energy from $440.00 to $439.00 and set an “overweight” rating for the company in a research report on Tuesday, October 21st. Wall Street Zen raised shares of Talen Energy from a “sell” rating to a “hold” rating in a research note on Monday, August 11th. Finally, Wells Fargo & Company cut their price objective on shares of Talen Energy from $453.00 to $445.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $395.07.

Talen Energy 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.