Allspring Global Investments Holdings LLC Buys 141,231 Shares of Talen Energy Corporation $TLN

Allspring Global Investments Holdings LLC boosted its position in Talen Energy Corporation (NASDAQ:TLN) by 74.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 331,203 shares of the utilities provider’s stock after purchasing an additional 141,231 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Talen Energy were worth $141,420,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Talen Energy in the 3rd quarter valued at $255,000. Perigon Wealth Management LLC bought a new stake in shares of Talen Energy during the 3rd quarter worth approximately $284,000. Apollon Wealth Management LLC bought a new position in shares of Talen Energy in the 3rd quarter valued at $300,000. Highland Capital Management LLC bought a new position in Talen Energy in the third quarter valued at about $304,000. Finally, CWM LLC increased its position in Talen Energy by 139.0% during the 3rd quarter. CWM LLC now owns 1,623 shares of the utilities provider’s stock worth $690,000 after purchasing an additional 944 shares in the last quarter. 0.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TLN shares. Evercore ISI upped their price objective on Talen Energy from $410.00 to $450.00 and gave the company an “outperform” rating in a research note on Tuesday, September 9th. Zacks Research downgraded Talen Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 18th. Morgan Stanley restated an “overweight” rating and issued a $443.00 price target on shares of Talen Energy in a report on Tuesday, December 16th. JPMorgan Chase & Co. boosted their price objective on Talen Energy from $432.00 to $442.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Talen Energy in a report on Wednesday, October 8th. Thirteen 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $395.21.

Talen Energy Trading Down 0.3%

NASDAQ TLN opened at $378.97 on Wednesday. The stock’s 50-day simple moving average is $378.19 and its two-hundred day simple moving average is $367.94. The company has a market capitalization of $17.32 billion, a price-to-earnings ratio of 82.03, a PEG ratio of 2.50 and a beta of 1.89. 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.

Talen Energy (NASDAQ:TLN) last posted 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 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 analyst estimates of $707.90 million. During the same period last year, the company earned $3.16 EPS. Talen Energy’s revenue for the quarter was up 24.9% compared to the same quarter last year. Research analysts forecast that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

Talen Energy 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).