Advisors Asset Management Inc. Grows Stake in Talen Energy Corporation $TLN

Advisors Asset Management Inc. lifted its stake in Talen Energy Corporation (NASDAQ:TLN) by 203.0% in the second quarter, Holdings Channel.com reports. 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 quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Third Point LLC bought a new position in Talen Energy during the first quarter valued at $116,807,000. Fred Alger Management LLC lifted its holdings in shares of Talen Energy by 56.3% in the 1st quarter. Fred Alger Management LLC now owns 1,492,145 shares of the utilities provider’s stock worth $297,937,000 after acquiring an additional 537,398 shares during the last quarter. PointState Capital LP purchased a new position in shares of Talen Energy during the 1st quarter worth about $75,148,000. Assenagon Asset Management S.A. bought a new position in Talen Energy during the 2nd quarter valued at about $91,239,000. Finally, Ameriprise Financial Inc. raised its position in Talen Energy by 6,621.1% in the 1st quarter. Ameriprise Financial Inc. now owns 303,661 shares of the utilities provider’s stock worth $60,638,000 after purchasing an additional 299,143 shares during the period. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Price Performance

Shares of TLN stock opened at $394.08 on Monday. The stock’s 50-day moving average is $401.85 and its 200 day moving average is $349.80. Talen Energy Corporation has a 1-year low of $158.08 and a 1-year high of $451.28. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.29 and a quick ratio of 1.72. The company has a market cap of $18.01 billion, a P/E ratio of 85.30, a PEG ratio of 2.15 and a beta of 1.89.

Talen Energy (NASDAQ:TLN) last released its quarterly 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 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 analyst estimates of $707.90 million. During the same period in the previous year, the company earned $3.16 earnings per share. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. Research analysts predict that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Melius assumed coverage on Talen Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $427.00 target price on the stock. Wells Fargo & Company cut their price objective on Talen Energy from $453.00 to $445.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Evercore ISI increased their target price on Talen Energy from $410.00 to $450.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 9th. Morgan Stanley decreased their target price on Talen Energy from $442.00 to $441.00 and set an “overweight” rating for the company in a research report on Tuesday, October 28th. Finally, Barclays cut their price target on shares of Talen Energy from $440.00 to $439.00 and set an “overweight” rating on the stock in a report on Tuesday, October 21st. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $395.07.

About Talen Energy

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.