Arrowstreet Capital Limited Partnership Purchases 112,317 Shares of Talen Energy Corporation $TLN

Arrowstreet Capital Limited Partnership grew its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 69.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 275,105 shares of the utilities provider’s stock after purchasing an additional 112,317 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Talen Energy were worth $87,822,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Flagship Harbor Advisors LLC bought a new position in Talen Energy in the 4th quarter worth approximately $27,000. Advisory Services Network LLC bought a new stake in Talen Energy during the 3rd quarter valued at $35,000. Northwestern Mutual Wealth Management Co. raised its holdings 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 valued at $36,000 after acquiring an additional 90 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Talen Energy during the fourth quarter worth $39,000. Finally, Bessemer Group Inc. lifted its position in shares of Talen Energy by 404.0% during the first quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Insider Buying and Selling

In other news, Director Gizman I. Abbas sold 2,600 shares of the company’s 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 completion of the transaction, the director directly owned 2,606 shares of the company’s stock, valued at approximately $990,280. This represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.78% of the stock is owned by corporate insiders.

Talen Energy Stock Performance

Talen Energy stock opened at $359.90 on Monday. The firm has a fifty day simple moving average of $379.23 and a two-hundred day simple moving average of $361.58. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32. Talen Energy Corporation has a twelve month low of $301.45 and a twelve month high of $451.28. The company has a market capitalization of $17.24 billion, a PE ratio of -537.16 and a beta of 1.82.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TLN. Scotiabank upped their target price on shares of Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 15th. The Goldman Sachs Group started coverage on Talen Energy in a research report on Thursday, June 18th. They issued a “buy” rating and a $499.00 price objective on the stock. Wells Fargo & Company lifted their price objective on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Jefferies Financial Group dropped their price objective on Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a research note on Monday, July 20th. Finally, Morgan Stanley restated an “overweight” rating and set a $508.00 target price on shares of Talen Energy in a research report on Wednesday, June 24th. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Talen Energy currently has an average rating of “Moderate Buy” and an average target price of $476.27.

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).