D.A. Davidson & CO. Buys Shares of 2,373 Talen Energy Corporation $TLN

D.A. Davidson & CO. purchased a new position in shares of Talen Energy Corporation (NASDAQ:TLN) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,373 shares of the utilities provider’s stock, valued at approximately $758,000.

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in Talen Energy by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 300,578 shares of the utilities provider’s stock valued at $95,953,000 after acquiring an additional 1,643 shares during the last quarter. Archer Investment Corp lifted its stake in Talen Energy by 4,090.9% during the first quarter. Archer Investment Corp now owns 461 shares of the utilities provider’s stock worth $147,000 after purchasing an additional 450 shares during the last quarter. State of Michigan Retirement System boosted its holdings in shares of Talen Energy by 1.9% in the 1st quarter. State of Michigan Retirement System now owns 11,000 shares of the utilities provider’s stock valued at $3,512,000 after purchasing an additional 200 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Talen Energy by 3.8% in the 1st quarter. Principal Financial Group Inc. now owns 101,953 shares of the utilities provider’s stock valued at $32,546,000 after purchasing an additional 3,718 shares in the last quarter. Finally, Diversify Wealth Management LLC acquired a new stake in shares of Talen Energy in the 1st quarter valued at $10,258,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Price Performance

Shares of TLN opened at $379.27 on Friday. 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 stock has a market cap of $18.17 billion, a PE ratio of -566.07 and a beta of 1.82. Talen Energy Corporation has a 12-month low of $301.45 and a 12-month high of $451.28. The business has a 50-day simple moving average of $378.72 and a two-hundred day simple moving average of $361.83.

Insider Buying and Selling at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the sale, the director directly owned 2,606 shares in the company, valued at approximately $990,280. The trade was a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TLN. Morgan Stanley reissued an “overweight” rating and set a $508.00 price target on shares of Talen Energy in a report on Wednesday, June 24th. Jefferies Financial Group decreased their target price on Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a research report on Monday. The Goldman Sachs Group began coverage on Talen Energy in a research note on Thursday, June 18th. They set a “buy” rating and a $499.00 target price for the company. Scotiabank raised their price target on shares of Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 15th. Finally, Barclays raised their price target 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. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $472.50.

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).