Mission Wealth Management LP Takes $904,000 Position in Talen Energy Corporation $TLN

Mission Wealth Management LP bought a new stake in Talen Energy Corporation (NASDAQ:TLN) during the third quarter, Holdings Channel.com reports. The fund bought 2,125 shares of the utilities provider’s stock, valued at approximately $904,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MAI Capital Management raised its position in shares of Talen Energy by 115.7% during the 2nd quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock valued at $32,000 after buying an additional 59 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in Talen Energy by 8.1% during the third quarter. B. Riley Wealth Advisors Inc. now owns 787 shares of the utilities provider’s stock valued at $335,000 after purchasing an additional 59 shares in the last quarter. Main Management ETF Advisors LLC raised its position in Talen Energy by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 3,665 shares of the utilities provider’s stock valued at $1,066,000 after purchasing an additional 60 shares in the last quarter. Wedbush Securities Inc. lifted its stake in Talen Energy by 4.8% during the second quarter. Wedbush Securities Inc. now owns 1,379 shares of the utilities provider’s stock worth $401,000 after purchasing an additional 63 shares during the last quarter. Finally, Grove Bank & Trust purchased a new position in shares of Talen Energy in the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

TLN has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Talen Energy in a report on Wednesday, January 21st. Wells Fargo & Company increased their price target on shares of Talen Energy from $445.00 to $506.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Barclays boosted their price objective on shares of Talen Energy from $439.00 to $457.00 and gave the stock an “overweight” rating in a report on Friday, January 9th. JPMorgan Chase & Co. upped their price objective on shares of Talen Energy from $432.00 to $442.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, Morgan Stanley lifted their target price on shares of Talen Energy from $443.00 to $470.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $413.25.

Talen Energy Stock Performance

Shares of NASDAQ:TLN opened at $317.05 on Thursday. The company has a current ratio of 2.29, a quick ratio of 1.72 and a debt-to-equity ratio of 2.02. The company has a 50-day moving average price of $369.40 and a 200-day moving average price of $382.60. The company has a market cap of $14.49 billion, a price-to-earnings ratio of 68.63, a price-to-earnings-growth ratio of 0.51 and a beta of 1.98. Talen Energy Corporation has a 12 month low of $158.08 and a 12 month high of $451.28.

Talen Energy (NASDAQ:TLN) last announced its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. Talen Energy had a return on equity of 13.52% and a net margin of 9.83%.The company had revenue of $812.00 million for the quarter, compared to the consensus estimate of $707.90 million. During the same quarter in the previous year, the business earned $3.16 EPS. Talen Energy’s revenue was up 24.9% compared to the same quarter last year. As a group, equities analysts anticipate that Talen Energy Corporation will post 15.94 EPS for the current year.

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).