Clear Harbor Asset Management LLC Acquires New Stake in Talen Energy Corporation $TLN

Clear Harbor Asset Management LLC bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 4,750 shares of the utilities provider’s stock, valued at approximately $1,825,000.

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

Insider Transactions at Talen Energy

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.78% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Zacks Research raised shares of Talen Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Barclays reduced their target price on shares of Talen Energy from $411.00 to $408.00 and set an “overweight” rating on the stock in a report on Tuesday, July 28th. Wall Street Zen cut shares of Talen Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings downgraded shares of Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Finally, BNP Paribas Exane reaffirmed an “outperform” rating and set a $560.00 price objective on shares of Talen Energy in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $477.17.

Talen Energy Stock Performance

Shares of TLN opened at $314.46 on Friday. The stock has a 50-day simple moving average of $369.15 and a 200-day simple moving average of $357.17. The company has a debt-to-equity ratio of 5.82, a quick ratio of 0.55 and a current ratio of 0.78. The stock has a market capitalization of $15.07 billion, a PE ratio of -75.41 and a beta of 1.90. Talen Energy Corporation has a 1 year low of $301.45 and a 1 year high of $451.28.

Talen Energy (NASDAQ:TLN) last released its earnings results 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). Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%.The firm had revenue of $747.00 million for the quarter, compared to analysts’ expectations of $832.81 million. On average, analysts predict that Talen Energy Corporation will post 25.07 earnings per share for the current fiscal year.

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).