Man Group plc Buys Shares of 3,930 Talen Energy Corporation $TLN

Man Group plc purchased a new position in Talen Energy Corporation (NASDAQ:TLN) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,930 shares of the utilities provider’s stock, valued at approximately $1,510,000.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Talen Energy in the 2nd quarter valued at approximately $1,673,803,000. MFN Partners Management LP acquired a new stake in Talen Energy in the 2nd quarter worth approximately $1,152,780,000. State Street Corp boosted its position in Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after purchasing an additional 627,467 shares during the period. Norges Bank acquired a new position in Talen Energy during the fourth quarter valued at approximately $225,930,000. Finally, Two Seas Capital LP acquired a new position in Talen Energy during the second quarter valued at approximately $194,900,000. Institutional investors own 0.38% of the company’s stock.

Talen Energy Trading Up 2.8%

Shares of TLN stock opened at $302.03 on Thursday. The firm has a market capitalization of $14.47 billion, a P/E ratio of -72.43 and a beta of 1.84. Talen Energy Corporation has a 1 year low of $288.58 and a 1 year high of $451.28. The firm’s fifty day simple moving average is $350.76 and its 200 day simple moving average is $354.82. The company has a current ratio of 0.78, a quick ratio of 0.55 and a debt-to-equity ratio of 5.82.

Talen Energy (NASDAQ:TLN) last posted its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $747.00 million during the quarter, compared to analyst estimates of $832.81 million. As a group, sell-side analysts predict that Talen Energy Corporation will post 21.99 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TLN. Wall Street Zen cut shares of Talen Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Jefferies Financial Group lowered their target price on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. Scotiabank boosted their target price on shares of Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 15th. Susquehanna set a $449.00 target price on shares of Talen Energy in a research report on Friday, August 7th. Finally, Wells Fargo & Company upped their price target on shares of Talen Energy from $482.00 to $501.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $466.86.

Insider Buying and Selling at Talen Energy

In related news, Director Gizman I. 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 transaction of $988,000.00. Following the sale, the director directly owned 2,606 shares of the company’s stock, valued at $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.78% of the company’s stock.

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).