Voya Investment Management LLC Raises Holdings in Talen Energy Corporation $TLN

Voya Investment Management LLC boosted its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 57.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 9,288 shares of the utilities provider’s stock after buying an additional 3,402 shares during the quarter. Voya Investment Management LLC’s holdings in Talen Energy were worth $3,951,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MAI Capital Management lifted its stake in shares of Talen Energy by 115.7% in the 2nd quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 59 shares during the last quarter. Main Management ETF Advisors LLC raised its holdings in Talen Energy by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 3,665 shares of the utilities provider’s stock valued at $1,066,000 after buying an additional 60 shares during the period. Wedbush Securities Inc. raised its holdings in Talen Energy by 4.8% in the 2nd quarter. Wedbush Securities Inc. now owns 1,379 shares of the utilities provider’s stock valued at $401,000 after buying an additional 63 shares during the period. Grove Bank & Trust acquired a new position in Talen Energy in the third quarter valued at about $32,000. Finally, Atlantic Union Bankshares Corp purchased a new position in Talen Energy during the second quarter worth about $27,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Performance

NASDAQ:TLN opened at $384.52 on Friday. Talen Energy Corporation has a 52 week low of $158.08 and a 52 week high of $451.28. The company has a fifty day simple moving average of $378.79 and a two-hundred day simple moving average of $365.07. The company has a quick ratio of 1.72, a current ratio of 2.29 and a debt-to-equity ratio of 2.02. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 83.23, a price-to-earnings-growth ratio of 2.52 and a beta of 1.89.

Talen Energy (NASDAQ:TLN) last announced its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.01 by $0.24. Talen Energy had a return on equity of 13.52% and a net margin of 9.83%.The business had revenue of $812.00 million for the quarter, compared to analysts’ expectations of $707.90 million. During the same period last year, the firm earned $3.16 earnings per share. The company’s revenue for the quarter 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 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Talen Energy from $453.00 to $445.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Melius Research lifted their target price on shares of Talen Energy from $427.00 to $576.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Zacks Research cut Talen Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 18th. Barclays lowered their price target on Talen Energy from $440.00 to $439.00 and set an “overweight” rating for the company in a research report on Tuesday, October 21st. Finally, Evercore ISI boosted their price objective on Talen Energy from $410.00 to $450.00 and gave the company an “outperform” rating in a report on Tuesday, September 9th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $395.21.

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).