NewEdge Advisors LLC Sells 6,207 Shares of Talen Energy Corporation $TLN

NewEdge Advisors LLC lowered its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 32.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 13,052 shares of the utilities provider’s stock after selling 6,207 shares during the period. NewEdge Advisors LLC’s holdings in Talen Energy were worth $4,167,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Flagship Harbor Advisors LLC purchased a new stake in Talen Energy in the fourth quarter worth about $27,000. Advisory Services Network LLC bought a new stake in Talen Energy during the 3rd quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Talen Energy by 1,500.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 90 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Talen Energy during the 4th quarter worth approximately $39,000. Finally, Bessemer Group Inc. grew its holdings in shares of Talen Energy by 404.0% during the 1st quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 101 shares during the period. 0.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Gizman I. Abbas sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the transaction, the director owned 2,606 shares of the company’s stock, valued at $990,280. This trade represents a 49.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on TLN. Jefferies Financial Group lowered their target price on Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a research note on Monday, July 20th. Zacks Research raised Talen Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Morgan Stanley reiterated an “overweight” rating and issued a $508.00 price objective on shares of Talen Energy in a report on Wednesday, June 24th. Wall Street Zen lowered Talen Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Scotiabank boosted their target price on shares of Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $476.58.

Talen Energy Price Performance

Shares of TLN opened at $365.07 on Thursday. Talen Energy Corporation has a fifty-two week low of $301.45 and a fifty-two week high of $451.28. The firm’s 50-day simple moving average is $372.32 and its two-hundred day simple moving average is $358.30. The stock has a market cap of $17.49 billion, a PE ratio of -87.55 and a beta of 1.90. The company has a debt-to-equity ratio of 5.82, a quick ratio of 0.55 and a current ratio of 0.78.

Talen Energy (NASDAQ:TLN) last released its 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 negative net margin of 5.38% and a positive return on equity of 43.32%. The business had revenue of $747.00 million for the quarter, compared to analysts’ expectations of $832.81 million. Analysts anticipate that Talen Energy Corporation will post 25.07 earnings per share for the current fiscal year.

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).