Fortitude Advisory Group L.L.C. Takes Position in Talen Energy Corporation $TLN

Fortitude Advisory Group L.L.C. bought a new stake in Talen Energy Corporation (NASDAQ:TLN) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,586 shares of the utilities provider’s stock, valued at approximately $1,145,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Praxis Investment Management Inc. increased its holdings in shares of Talen Energy by 11.6% in the first quarter. Praxis Investment Management Inc. now owns 1,529 shares of the utilities provider’s stock valued at $488,000 after purchasing an additional 159 shares during the period. QRG Capital Management Inc. boosted its position in Talen Energy by 27.6% in the first quarter. QRG Capital Management Inc. now owns 781 shares of the utilities provider’s stock valued at $249,000 after buying an additional 169 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Talen Energy in the first quarter valued at approximately $268,000. Elevation Point Wealth Partners LLC increased its holdings in Talen Energy by 680.1% in 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 during the period. Finally, Strs Ohio increased its holdings in Talen Energy by 39.6% in the 1st quarter. Strs Ohio now owns 14,085 shares of the utilities provider’s stock worth $4,496,000 after buying an additional 3,998 shares during the period. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Price Performance

TLN stock opened at $364.67 on Monday. 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. The firm’s fifty day moving average is $376.69 and its 200 day moving average is $361.62. The firm has a market cap of $17.47 billion, a PE ratio of -544.28 and a beta of 1.82.

Insider Activity at Talen Energy

In related news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.78% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TLN has been the subject of several research reports. Raymond James Financial restated an “outperform” rating and set a $457.00 price objective on shares of Talen Energy in a research note on Monday, April 27th. Barclays increased their price objective on shares of Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 19th. The Goldman Sachs Group assumed coverage on shares of Talen Energy in a research report on Thursday, June 18th. They set a “buy” rating and a $499.00 target price for the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $508.00 price target on shares of Talen Energy in a report on Wednesday, June 24th. Finally, BNP Paribas Exane started coverage on Talen Energy in a research note on Wednesday, March 18th. They set an “outperform” rating and a $548.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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).