Talen Energy Corporation $TLN Shares Purchased by CenterBook Partners LP

CenterBook Partners LP grew its holdings in Talen Energy Corporation (NASDAQ:TLN) by 106.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,080 shares of the utilities provider’s stock after acquiring an additional 23,783 shares during the period. Talen Energy comprises 0.6% of CenterBook Partners LP’s holdings, making the stock its 24th biggest position. CenterBook Partners LP’s holdings in Talen Energy were worth $14,409,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Continuum Advisory LLC acquired a new position in Talen Energy during the second quarter worth $33,000. Grove Bank & Trust increased its stake in shares of Talen Energy by 40.5% in the 3rd quarter. Grove Bank & Trust now owns 104 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 30 shares during the last quarter. Heritage Family Offices LLP purchased a new position in Talen Energy during the third quarter worth about $36,000. Fortitude Family Office LLC purchased a new stake in shares of Talen Energy during the 3rd quarter valued at approximately $37,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Talen Energy in the 2nd quarter valued at $38,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TLN. Canadian Imperial Bank of Commerce dropped their target price on shares of Talen Energy from $499.00 to $493.00 and set an “outperform” rating for the company in a report on Wednesday, October 28th. Wells Fargo & Company decreased their price objective on shares of Talen Energy from $501.00 to $479.00 and set an “overweight” rating for the company in a research report on Wednesday, October 28th. Weiss Ratings cut shares of Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 18th. Mizuho started coverage on Talen Energy in a research report on Monday, August 24th. They issued an “outperform” rating and a $405.00 target price for the company. Finally, Morgan Stanley dropped their price objective on shares of Talen Energy from $514.00 to $504.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $458.69.

Talen Energy Trading Up 7.1%

Shares of TLN traded up $22.41 during mid-day trading on Friday, reaching $338.64. The company had a trading volume of 1,266,140 shares, compared to its average volume of 1,123,219. The firm has a fifty day simple moving average of $327.21 and a 200-day simple moving average of $348.44. Talen Energy Corporation has a fifty-two week low of $279.77 and a fifty-two week high of $449.84. The company has a current ratio of 0.78, a quick ratio of 0.55 and a debt-to-equity ratio of 5.82. The stock has a market cap of $16.22 billion, a price-to-earnings ratio of -61.13 and a beta of 1.77.

Talen Energy (NASDAQ:TLN) last posted its earnings results on Tuesday, November 3rd. The utilities provider reported $2.88 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($5.45). The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.30 billion. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. During the same quarter in the previous year, the firm posted $4.25 EPS. On average, sell-side analysts anticipate that Talen Energy Corporation will post 15.26 EPS for the current fiscal year.

About Talen Energy

Talen Energy Corporation (NASDAQ:TLN) is an independent power producer that owns and operates power generation and energy infrastructure assets in the United States. The company sells electricity, capacity and ancillary services into wholesale power markets, serving utilities, commercial and industrial customers, and other energy market participants.

Talen’s generation portfolio includes nuclear, natural gas and other power assets. Its Susquehanna nuclear power station in Pennsylvania is a central part of the company’s operations, and Talen has also pursued energy infrastructure projects designed to support large-scale electricity users, including data centers and other technology-related facilities.

The company was formed in 2015 through the separation of competitive power generation assets from PPL Corporation.