Oregon Public Employees Retirement Fund Purchases New Shares in Talen Energy Corporation $TLN

Oregon Public Employees Retirement Fund acquired a new position in Talen Energy Corporation (NASDAQ:TLN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,179 shares of the utilities provider’s stock, valued at approximately $3,905,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in Talen Energy by 33.9% in the second 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 during the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of Talen Energy in the 2nd quarter worth approximately $478,000. Maryland State Retirement & Pension System purchased a new position in Talen Energy in the second quarter valued at approximately $641,000. Voya Investment Management LLC grew its holdings in Talen Energy by 57.8% during the third quarter. Voya Investment Management LLC now owns 9,288 shares of the utilities provider’s stock valued at $3,951,000 after purchasing an additional 3,402 shares during the period. Finally, Yousif Capital Management LLC purchased a new stake in Talen Energy in the third quarter worth $6,138,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Trading Up 4.2%

Shares of TLN stock opened at $370.83 on Monday. Talen Energy Corporation has a 52-week low of $158.08 and a 52-week high of $451.28. The business’s fifty day moving average is $375.65 and its 200 day moving average is $373.05. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.72 and a current ratio of 2.29. The company has a market capitalization of $16.94 billion, a PE ratio of 80.27, a price-to-earnings-growth ratio of 0.58 and a beta of 1.97.

Talen Energy (NASDAQ:TLN) last announced its earnings results on Wednesday, November 5th. The utilities provider reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. The business had revenue of $812.00 million for the quarter, compared to analyst estimates of $707.90 million. Talen Energy had a return on equity of 13.52% and a net margin of 9.83%.The company’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.16 EPS. On average, equities research analysts anticipate that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Talen Energy in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Talen Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 18th. JPMorgan Chase & Co. lifted their target price on shares of Talen Energy from $432.00 to $442.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Morgan Stanley restated an “overweight” rating and set a $443.00 price target on shares of Talen Energy in a research note on Tuesday, December 16th. Finally, Scotiabank began coverage on shares of Talen Energy in a research note on Monday, September 22nd. They issued a “sector perform” rating and a $418.00 price objective for the company. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $396.50.

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).