14,016 Shares in Talen Energy Corporation $TLN Acquired by SaddleRock Capital Management LLC

SaddleRock Capital Management LLC acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 14,016 shares of the utilities provider’s stock, valued at approximately $5,386,000. Talen Energy accounts for approximately 5.2% of SaddleRock Capital Management LLC’s portfolio, making the stock its 11th largest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TLN. Advisory Services Network LLC acquired a new position in Talen Energy in the third quarter valued at about $35,000. Northwestern Mutual Wealth Management Co. grew its stake in Talen Energy by 1,500.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after buying an additional 90 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Talen Energy during the second quarter worth about $38,000. Silvant Capital Management LLC bought a new position in Talen Energy in the 2nd quarter valued at about $42,000. Finally, Bessemer Group Inc. increased its holdings in Talen Energy by 404.0% in the 1st quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock valued at $41,000 after buying an additional 101 shares during the period. 0.38% of the stock is owned by institutional investors and hedge funds.

Talen Energy Trading Down 2.8%

TLN opened at $305.54 on Tuesday. The company’s 50 day moving average is $367.53 and its 200-day moving average is $357.04. Talen Energy Corporation has a 1-year low of $301.45 and a 1-year high of $451.28. 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 company has a market cap of $14.64 billion, a P/E ratio of -73.27 and a beta of 1.90.

Talen Energy (NASDAQ:TLN) last announced its quarterly 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). The company had revenue of $747.00 million for the quarter, compared to the consensus estimate of $832.81 million. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. Equities research analysts predict that Talen Energy Corporation will post 25.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Talen Energy

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the sale, the director owned 2,606 shares of the company’s stock, valued at approximately $990,280. The trade was a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.78% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TLN. Weiss Ratings downgraded shares of Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 18th. Wall Street Zen cut shares of Talen Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Mizuho started coverage on shares of Talen Energy in a research report on Monday. They set an “outperform” rating and a $405.00 price objective for the company. Zacks Research upgraded Talen Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Finally, Morgan Stanley decreased their price target on Talen Energy from $508.00 to $503.00 and set an “overweight” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Talen Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $466.86.

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).