AlphaQuest LLC Trims Stock Position in Talen Energy Corporation $TLN

AlphaQuest LLC decreased its holdings in Talen Energy Corporation (NASDAQ:TLN) by 63.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,268 shares of the utilities provider’s stock after selling 2,232 shares during the quarter. AlphaQuest LLC’s holdings in Talen Energy were worth $539,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in TLN. Arizona State Retirement System raised its position in Talen Energy by 7.8% in the third quarter. Arizona State Retirement System now owns 11,429 shares of the utilities provider’s stock worth $4,862,000 after acquiring an additional 826 shares during the period. Impact Partnership Wealth LLC purchased a new stake in shares of Talen Energy in the 3rd quarter worth $679,000. New York State Common Retirement Fund raised its holdings in Talen Energy by 33.5% in the 3rd quarter. New York State Common Retirement Fund now owns 24,700 shares of the utilities provider’s stock worth $10,507,000 after purchasing an additional 6,200 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Talen Energy by 58.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,602 shares of the utilities provider’s stock valued at $681,000 after purchasing an additional 588 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Talen Energy by 57.3% during the third quarter. Bank of New York Mellon Corp now owns 376,562 shares of the utilities provider’s stock valued at $160,182,000 after purchasing an additional 137,182 shares during the period. 0.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company raised their price objective on Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. JPMorgan Chase & Co. raised 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 increased their price objective on shares of Talen Energy from $443.00 to $470.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Weiss Ratings restated a “hold (c)” rating on shares of Talen Energy in a research report on Wednesday, January 21st. Finally, Barclays upped their target price on shares of Talen Energy from $439.00 to $457.00 and gave the stock an “overweight” rating in a report on Friday, January 9th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $413.25.

Talen Energy Trading Up 2.4%

Shares of Talen Energy stock opened at $324.63 on Friday. Talen Energy Corporation has a twelve month low of $158.08 and a twelve month high of $451.28. 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 business has a 50-day moving average price of $368.05 and a 200-day moving average price of $382.19. The firm has a market cap of $14.83 billion, a price-to-earnings ratio of 70.27, a PEG ratio of 0.47 and a beta of 1.98.

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

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).