Hsbc Holdings PLC Decreases Position in Talen Energy Corporation $TLN

Hsbc Holdings PLC trimmed its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 64.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 8,725 shares of the utilities provider’s stock after selling 15,524 shares during the period. Hsbc Holdings PLC’s holdings in Talen Energy were worth $2,788,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Talen Energy during the fourth quarter worth about $27,000. Advisory Services Network LLC acquired a new stake in shares of Talen Energy during the third quarter worth $35,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 valued at $36,000 after buying an additional 90 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Talen Energy in the 4th quarter worth $39,000. Finally, Rothschild Investment LLC grew its stake in Talen Energy by 235.0% during the 4th quarter. Rothschild Investment LLC now owns 134 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 94 shares during the last quarter. 0.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TLN. The Goldman Sachs Group began coverage on shares of Talen Energy in a report on Thursday, June 18th. They issued a “buy” rating and a $499.00 price target on the stock. Jefferies Financial Group decreased their target price on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Raymond James Financial reaffirmed an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a research report on Monday, April 27th. Scotiabank boosted their price objective on Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a report on Wednesday, July 15th. Finally, Barclays raised their target price on Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Talen Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $476.27.

Talen Energy Stock Performance

Shares of NASDAQ:TLN opened at $359.90 on Friday. The business’s 50 day moving average price is $379.23 and its 200-day moving average price is $361.82. Talen Energy Corporation has a 1 year low of $301.45 and a 1 year high of $451.28. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05. The firm has a market capitalization of $17.24 billion, a PE ratio of -537.16 and a beta of 1.82.

Insider Buying and Selling at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction 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 transaction, the director owned 2,606 shares in the company, valued at $990,280. The trade was a 49.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.78% of the stock is currently owned by corporate insiders.

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).