Talen Energy Corporation $TLN Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lessened its position in Talen Energy Corporation (NASDAQ:TLN) by 23.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 89,300 shares of the utilities provider’s stock after selling 27,900 shares during the quarter. Talen Energy makes up about 1.4% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its 19th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Talen Energy were worth $28,507,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Talen Energy during the fourth quarter worth approximately $27,000. Neo Ivy Capital Management purchased a new position in Talen Energy in the 3rd quarter valued at $34,000. Advisory Services Network LLC acquired a new stake in Talen Energy during the 3rd quarter worth $35,000. Northwestern Mutual Wealth Management Co. boosted its stake in Talen Energy by 1,500.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 90 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Talen Energy during the 4th quarter worth $39,000. 0.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TLN. BNP Paribas Exane assumed coverage on shares of Talen Energy in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 target price for the company. Jefferies Financial Group lowered shares of Talen Energy from a “buy” rating to a “hold” rating and set a $453.00 price target on the stock. in a research report on Tuesday, June 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $508.00 price objective on shares of Talen Energy in a research note on Wednesday, June 24th. The Goldman Sachs Group started coverage on shares of Talen Energy in a report on Thursday, June 18th. They issued a “buy” rating and a $499.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Talen Energy presently has a consensus rating of “Moderate Buy” and an average price target of $458.77.

Talen Energy Price Performance

NASDAQ TLN opened at $364.67 on Monday. The business’s fifty day simple moving average is $376.69 and its 200-day simple moving average is $361.62. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32. The firm has a market cap of $17.47 billion, a PE ratio of -544.28 and a beta of 1.82. Talen Energy Corporation has a 52 week low of $255.50 and a 52 week high of $451.28.

Insider Transactions at Talen Energy

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the transaction, the director directly owned 2,606 shares of the company’s stock, valued at $990,280. The trade was a 49.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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).