Talen Energy Corporation $TLN Shares Acquired by State of Wyoming

State of Wyoming lifted its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 86.1% in the first quarter, HoldingsChannel reports. The firm owned 3,466 shares of the utilities provider’s stock after acquiring an additional 1,604 shares during the period. State of Wyoming’s holdings in Talen Energy were worth $1,106,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Amundi purchased a new stake in Talen Energy in the 1st quarter valued at approximately $299,000. AQR Capital Management LLC acquired a new stake in Talen Energy during the 1st quarter valued at $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Talen Energy by 11.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock worth $1,454,000 after buying an additional 761 shares in the last quarter. NewEdge Advisors LLC increased its position in Talen Energy by 17,400.0% during the first quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock worth $175,000 after buying an additional 870 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Talen Energy by 15.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock worth $9,794,000 after buying an additional 6,498 shares in the last quarter. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Trading Up 3.1%

Shares of Talen Energy stock opened at $377.41 on Thursday. Talen Energy Corporation has a fifty-two week low of $301.45 and a fifty-two week high of $451.28. The firm has a market cap of $18.08 billion, a PE ratio of -563.29 and a beta of 1.82. The business’s fifty day moving average is $378.19 and its two-hundred day moving average is $361.95. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32.

Analyst Ratings Changes

TLN has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Morgan Stanley reiterated an “overweight” rating and set a $508.00 price objective on shares of Talen Energy in a research report on Wednesday, June 24th. Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Scotiabank upped their target price on shares of Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a report on Wednesday, July 15th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a research note on Monday, April 27th. Ten 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 stock has an average rating of “Moderate Buy” and an average price target of $472.50.

Insider Activity at Talen Energy

In related news, Director Gizman I. Abbas sold 2,600 shares of the company’s stock in a transaction on 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 directly owned 2,606 shares in the company, valued at approximately $990,280. This represents a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.78% of the stock is currently owned by corporate insiders.

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).