New York State Teachers Retirement System Lowers Holdings in Talen Energy Corporation $TLN

New York State Teachers Retirement System lowered its position in Talen Energy Corporation (NASDAQ:TLN) by 4.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,764 shares of the utilities provider’s stock after selling 1,591 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of Talen Energy worth $10,140,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Elevation Point Wealth Partners LLC grew its position in shares of Talen Energy by 680.1% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 4,501 shares of the utilities provider’s stock worth $1,437,000 after buying an additional 3,924 shares in the last quarter. Strs Ohio raised its holdings in shares of Talen Energy by 39.6% in the first quarter. Strs Ohio now owns 14,085 shares of the utilities provider’s stock valued at $4,496,000 after acquiring an additional 3,998 shares in the last quarter. Essex Financial Services Inc. purchased a new stake in Talen Energy in the first quarter worth about $234,000. North Point Portfolio Managers Corp OH purchased a new stake in Talen Energy in the first quarter worth about $10,430,000. Finally, Formidable Asset Management LLC grew its holdings in Talen Energy by 38.6% during the 1st quarter. Formidable Asset Management LLC now owns 4,641 shares of the utilities provider’s stock worth $1,482,000 after acquiring an additional 1,293 shares in the last quarter. 0.38% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the sale, the director directly owned 2,606 shares in the company, valued at $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.78% of the stock is owned by insiders.

Talen Energy Stock Performance

Shares of Talen Energy stock opened at $364.67 on Monday. The company has a market capitalization of $17.47 billion, a PE ratio of -544.28 and a beta of 1.82. The company has a 50-day simple moving average of $376.69 and a two-hundred day simple moving average of $361.62. Talen Energy Corporation has a one year low of $255.50 and a one year high of $451.28. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25.

Analysts Set New Price Targets

A number of research analysts have commented on TLN shares. Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Barclays increased their price objective on shares of Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Raymond James Financial reissued an “outperform” rating and set a $457.00 price objective on shares of Talen Energy in a report on Monday, April 27th. Morgan Stanley reissued an “overweight” rating and issued a $508.00 price objective on shares of Talen Energy in a research note on Wednesday, June 24th. Finally, BNP Paribas Exane initiated coverage on Talen Energy in a report on Wednesday, March 18th. They set an “outperform” rating and a $548.00 target price for the company. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Talen Energy currently has a consensus rating of “Moderate Buy” and an average price target of $458.77.

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).