Talen Energy Corporation $TLN Shares Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC raised its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 680.1% in the first quarter, Holdings Channel.com reports. The fund owned 4,501 shares of the utilities provider’s stock after buying an additional 3,924 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Talen Energy were worth $1,437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strs Ohio lifted its stake in shares of Talen Energy by 39.6% in the 1st quarter. Strs Ohio now owns 14,085 shares of the utilities provider’s stock valued at $4,496,000 after purchasing an additional 3,998 shares in the last quarter. Essex Financial Services Inc. acquired a new stake in Talen Energy during the 1st quarter worth approximately $234,000. North Point Portfolio Managers Corp OH acquired a new stake in Talen Energy during the 1st quarter worth approximately $10,430,000. Formidable Asset Management LLC raised its holdings in Talen Energy by 38.6% in the first quarter. Formidable Asset Management LLC now owns 4,641 shares of the utilities provider’s stock valued at $1,482,000 after buying an additional 1,293 shares during the period. Finally, Red Door Wealth Management LLC raised its holdings in Talen Energy by 2.1% in the first quarter. Red Door Wealth Management LLC now owns 2,236 shares of the utilities provider’s stock valued at $714,000 after buying an additional 45 shares during the period. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Talen Energy

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the business’s stock in a transaction 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 transaction, the director owned 2,606 shares in the company, valued at $990,280. The trade was a 49.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.78% of the company’s stock.

Analysts Set New Price Targets

TLN has been the subject of several research reports. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Jefferies Financial Group downgraded shares of Talen Energy from a “buy” rating to a “hold” rating and set a $453.00 target price on the stock. in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. reduced their target price on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a report on Thursday, March 19th. Raymond James Financial reaffirmed an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a research report on Monday, April 27th. Finally, BNP Paribas Exane initiated coverage on Talen Energy in a report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price target for the company. Eleven equities research analysts have rated the stock with a Buy rating and four have issued 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 target price of $458.77.

Talen Energy Stock Performance

TLN opened at $364.67 on Monday. The firm has a market capitalization of $17.47 billion, a P/E ratio of -544.28 and a beta of 1.82. The firm’s 50 day moving average is $376.69 and its 200-day moving average is $361.62. Talen Energy Corporation has a 52-week low of $255.50 and a 52-week high of $451.28. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32.

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).