Envestnet Portfolio Solutions Inc. Cuts Stock Holdings in Talen Energy Corporation $TLN

Envestnet Portfolio Solutions Inc. trimmed its stake in Talen Energy Corporation (NASDAQ:TLN) by 23.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,300 shares of the utilities provider’s stock after selling 4,090 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Talen Energy were worth $5,658,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TLN. MAI Capital Management increased its holdings in shares of Talen Energy by 115.7% in the 2nd quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock worth $32,000 after buying an additional 59 shares during the last quarter. Main Management ETF Advisors LLC raised its position in Talen Energy by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 3,665 shares of the utilities provider’s stock valued at $1,066,000 after purchasing an additional 60 shares in the last quarter. Wedbush Securities Inc. lifted its stake in Talen Energy by 4.8% during the second quarter. Wedbush Securities Inc. now owns 1,379 shares of the utilities provider’s stock worth $401,000 after purchasing an additional 63 shares during the last quarter. Grove Bank & Trust purchased a new position in shares of Talen Energy in the 3rd quarter worth about $32,000. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Talen Energy during the 2nd quarter valued at about $27,000. 0.38% of the stock is currently owned by institutional investors.

Talen Energy Trading Down 3.5%

NASDAQ:TLN opened at $366.43 on Friday. The firm has a market capitalization of $16.74 billion, a P/E ratio of 79.31, a P/E/G ratio of 0.55 and a beta of 1.97. The company has a quick ratio of 1.72, a current ratio of 2.29 and a debt-to-equity ratio of 2.02. The company has a fifty day moving average of $374.12 and a 200 day moving average of $378.67. Talen Energy Corporation has a 52 week low of $158.08 and a 52 week high of $451.28.

Talen Energy (NASDAQ:TLN) last released its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $4.25 earnings per share for the quarter, beating the consensus estimate of $4.01 by $0.24. Talen Energy had a net margin of 9.83% and a return on equity of 13.52%. The business had revenue of $812.00 million for the quarter, compared to analysts’ expectations of $707.90 million. During the same quarter in the previous year, the business posted $3.16 earnings per share. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. On average, research analysts predict that Talen Energy Corporation will post 15.94 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on TLN shares. Wells Fargo & Company upped their target price on Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a research note on Tuesday. Morgan Stanley boosted their price objective on shares of Talen Energy from $443.00 to $470.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Barclays increased their target price on shares of Talen Energy from $439.00 to $457.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Talen Energy in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on Talen Energy from $432.00 to $442.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $400.92.

Talen Energy Company Profile

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).