Riggs Asset Managment Co. Inc. Boosts Holdings in Talen Energy Corporation (NASDAQ:TLN)

Riggs Asset Managment Co. Inc. raised its holdings in Talen Energy Corporation (NASDAQ:TLN) by 7.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,793 shares of the utilities provider’s stock after purchasing an additional 682 shares during the quarter. Riggs Asset Managment Co. Inc.’s holdings in Talen Energy were worth $1,955,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in TLN. Golden State Wealth Management LLC acquired a new position in shares of Talen Energy in the first quarter worth about $35,000. Jones Financial Companies Lllp acquired a new position in shares of Talen Energy in the fourth quarter worth about $37,000. State of Wyoming acquired a new position in shares of Talen Energy in the fourth quarter worth about $50,000. Tower Research Capital LLC TRC raised its position in shares of Talen Energy by 7,285.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 517 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 510 shares during the period. Finally, Creative Financial Designs Inc. ADV acquired a new position in shares of Talen Energy in the fourth quarter worth about $111,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $296.04, for a total value of $52,695,120.00. Following the completion of the sale, the insider owned 5,734,970 shares of the company’s stock, valued at $1,697,780,518.80. This represents a 3.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 388,530 shares of company stock valued at $114,090,933. 0.18% of the stock is currently owned by corporate insiders.

Talen Energy Stock Up 5.9%

TLN stock opened at $292.50 on Friday. The company has a market cap of $13.31 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 6.87 and a beta of 1.85. The company has a current ratio of 1.62, a quick ratio of 1.20 and a debt-to-equity ratio of 2.52. Talen Energy Corporation has a 12 month low of $98.50 and a 12 month high of $301.70. The firm has a 50-day moving average of $256.30 and a two-hundred day moving average of $227.06.

Talen Energy (NASDAQ:TLN) last released its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.35). The business had revenue of $390.00 million during the quarter, compared to analyst estimates of $556.93 million. Talen Energy had a net margin of 28.51% and a return on equity of 11.47%. As a group, analysts forecast that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TLN has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on shares of Talen Energy in a research report on Wednesday, March 12th. They issued an “overweight” rating and a $243.00 price objective for the company. Raymond James Financial initiated coverage on shares of Talen Energy in a research report on Friday, June 13th. They set an “outperform” rating and a $314.00 price target for the company. UBS Group upped their price target on shares of Talen Energy from $296.00 to $366.00 and gave the stock a “buy” rating in a research report on Friday, June 27th. Susquehanna restated an “overweight” rating on shares of Talen Energy in a research report on Thursday, June 12th. Finally, Wall Street Zen upgraded shares of Talen Energy from a “sell” rating to a “hold” rating in a research report on Monday, June 30th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $255.25.

Talen Energy Company Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.