Principal Financial Group Inc. Purchases 96,772 Shares of Talen Energy Corporation $TLN

Principal Financial Group Inc. raised its position in Talen Energy Corporation (NASDAQ:TLN) by 2,067.8% in the 3rd quarter, Holdings Channel reports. The firm owned 101,452 shares of the utilities provider’s stock after buying an additional 96,772 shares during the period. Principal Financial Group Inc.’s holdings in Talen Energy were worth $43,156,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Talen Energy during the second quarter worth $168,188,000. State Street Corp raised its stake in Talen Energy by 151.0% during the 2nd quarter. State Street Corp now owns 711,231 shares of the utilities provider’s stock worth $206,805,000 after buying an additional 427,910 shares during the period. Third Point LLC lifted its holdings in Talen Energy by 34.2% during the second quarter. Third Point LLC now owns 785,000 shares of the utilities provider’s stock worth $228,254,000 after acquiring an additional 200,000 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Talen Energy by 179.9% during the second quarter. JPMorgan Chase & Co. now owns 264,091 shares of the utilities provider’s stock worth $76,790,000 after acquiring an additional 169,734 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Talen Energy by 26.1% in the second quarter. Geode Capital Management LLC now owns 794,754 shares of the utilities provider’s stock valued at $231,150,000 after acquiring an additional 164,734 shares during the period. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Price Performance

NASDAQ TLN opened at $317.05 on Thursday. The firm’s 50 day moving average is $369.40 and its 200-day moving average is $382.60. 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 capitalization of $14.49 billion, a PE ratio of 68.63, a price-to-earnings-growth ratio of 0.51 and a beta of 1.98. Talen Energy Corporation has a 12-month low of $158.08 and a 12-month high of $451.28.

Talen Energy (NASDAQ:TLN) last announced its earnings results on Wednesday, November 5th. The utilities provider reported $4.25 EPS for the quarter, topping the consensus estimate of $4.01 by $0.24. Talen Energy had a net margin of 9.83% and a return on equity of 13.52%. The business had revenue of $812.00 million during the quarter, compared to analysts’ expectations of $707.90 million. During the same quarter in the prior year, the company posted $3.16 earnings per share. The firm’s revenue was up 24.9% on a year-over-year basis. Equities research 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 commented on TLN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Talen Energy in a research report on Wednesday, January 21st. JPMorgan Chase & Co. raised their target price on shares of Talen Energy from $432.00 to $442.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Wells Fargo & Company upped their price target on shares of Talen Energy from $445.00 to $506.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Morgan Stanley increased their price objective on shares of Talen Energy from $443.00 to $470.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Finally, Barclays boosted their price objective on shares of Talen Energy from $439.00 to $457.00 and gave the company an “overweight” rating in a research report on Friday, January 9th. Eleven investment 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, Talen Energy has a consensus rating of “Moderate Buy” and an average price target of $413.25.

About Talen Energy

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).