Independent Financial Group LLC Buys New Position in Talen Energy Corporation $TLN

Independent Financial Group LLC purchased a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,855 shares of the utilities provider’s stock, valued at approximately $592,000.

Other institutional investors also recently added to or reduced their stakes in the company. Fred Alger Management LLC lifted its stake in Talen Energy by 8.4% in the fourth quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider’s stock valued at $676,247,000 after buying an additional 140,345 shares during the last quarter. Reaves W H & Co. Inc. grew its position in shares of Talen Energy by 7.9% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock worth $570,393,000 after acquiring an additional 111,160 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Talen Energy by 35.6% in the 4th quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider’s stock valued at $540,287,000 after acquiring an additional 378,357 shares during the period. State Street Corp increased its holdings in shares of Talen Energy by 88.2% in the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after acquiring an additional 627,467 shares during the period. Finally, Geode Capital Management LLC raised its position in Talen Energy by 9.1% in the 4th quarter. Geode Capital Management LLC now owns 1,049,196 shares of the utilities provider’s stock valued at $409,559,000 after purchasing an additional 87,784 shares during the last quarter. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Stock Performance

NASDAQ:TLN opened at $377.41 on Thursday. The firm’s fifty day moving average price is $378.19 and its 200 day moving average price is $361.95. Talen Energy Corporation has a 1-year low of $301.45 and a 1-year high of $451.28. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05. The firm has a market cap of $18.08 billion, a price-to-earnings ratio of -563.29 and a beta of 1.82.

Analyst Ratings Changes

A number of brokerages recently weighed in on TLN. 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. Scotiabank lifted their price objective 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. Barclays upped their target price on shares of Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. The Goldman Sachs Group began coverage on shares of Talen Energy in a research note on Thursday, June 18th. They set a “buy” rating and a $499.00 target price for the company. Finally, Jefferies Financial Group lowered their price target on Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a report on Monday. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $472.50.

Insider Activity at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the firm’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 completion of the sale, the director owned 2,606 shares in the company, valued at approximately $990,280. This trade represents a 49.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.78% of the company’s stock.

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).