UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 5,945 Shares of Talen Energy Corporation $TLN

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Talen Energy Corporation (NASDAQ:TLN) by 9.2% in the second quarter, HoldingsChannel.com reports. The fund owned 70,487 shares of the utilities provider’s stock after acquiring an additional 5,945 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Talen Energy were worth $27,085,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TLN. BlackRock Inc. bought a new position in Talen Energy in the 2nd quarter worth $1,673,803,000. MFN Partners Management LP bought a new stake in shares of Talen Energy during the 2nd quarter valued at about $1,152,780,000. Fred Alger Management LLC increased its position in shares of Talen Energy by 8.4% during 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 period. Reaves W H & Co. Inc. increased 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 valued at $570,393,000 after buying an additional 111,160 shares during the period. Finally, Invesco Ltd. raised its stake in Talen Energy by 35.6% in the fourth quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider’s stock worth $540,287,000 after buying an additional 378,357 shares in the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Stock Performance

Shares of TLN opened at $305.52 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82. The business’s 50 day moving average price is $348.53 and its 200-day moving average price is $354.32. Talen Energy Corporation has a 52 week low of $288.58 and a 52 week high of $451.28. The stock has a market cap of $14.64 billion, a P/E ratio of -73.27 and a beta of 1.84.

Talen Energy (NASDAQ:TLN) last posted its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing analysts’ consensus estimates of $3.21 by ($5.21). The company had revenue of $747.00 million for the quarter, compared to the consensus estimate of $832.81 million. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. Equities research analysts anticipate that Talen Energy Corporation will post 21.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on TLN. Mizuho initiated coverage on Talen Energy in a research report on Monday, August 24th. They set an “outperform” rating and a $405.00 price objective on the stock. Jefferies Financial Group dropped their price target on Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Wells Fargo & Company upped their price target on Talen Energy from $482.00 to $501.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Weiss Ratings downgraded Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 18th. Finally, New Street Research set a $405.00 price objective on Talen Energy in a research report on Monday, August 24th. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $466.86.

Insider Buying and Selling at Talen Energy

In other news, Director Gizman 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 of the company’s stock, valued at $990,280. The trade was a 49.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is owned by 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).