Formidable Asset Management LLC Grows Stock Position in Talen Energy Corporation $TLN

Formidable Asset Management LLC boosted its holdings in Talen Energy Corporation (NASDAQ:TLN) by 38.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,641 shares of the utilities provider’s stock after acquiring an additional 1,293 shares during the period. Formidable Asset Management LLC’s holdings in Talen Energy were worth $1,482,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in TLN. Amundi acquired a new position in Talen Energy during the first quarter worth about $299,000. AQR Capital Management LLC acquired a new stake in shares of Talen Energy in the first quarter valued at approximately $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Talen Energy by 11.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock valued at $1,454,000 after purchasing an additional 761 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Talen Energy by 17,400.0% during the 1st quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock worth $175,000 after purchasing an additional 870 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Talen Energy by 15.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock worth $9,794,000 after purchasing an additional 6,498 shares in the last quarter. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Barclays raised their price target on Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Morgan Stanley restated an “overweight” rating and issued a $508.00 price objective on shares of Talen Energy in a research report on Wednesday. Finally, BNP Paribas Exane assumed coverage on Talen Energy in a research note on Wednesday, March 18th. They set an “outperform” rating and a $548.00 price objective on the stock. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $458.77.

Talen Energy Stock Performance

Shares of TLN opened at $404.09 on Monday. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. The company has a market capitalization of $19.36 billion, a price-to-earnings ratio of -603.11 and a beta of 1.81. The company’s 50 day simple moving average is $374.08 and its 200 day simple moving average is $361.03. Talen Energy Corporation has a 1 year low of $255.50 and a 1 year high of $451.28.

Insiders Place Their Bets

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the transaction, the director owned 2,606 shares of the company’s stock, valued at $990,280. This represents a 49.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.78% of the company’s stock.

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).