Talen Energy Corporation $TLN Shares Purchased by Empowered Funds LLC

Empowered Funds LLC increased its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 24.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,070 shares of the utilities provider’s stock after buying an additional 7,581 shares during the quarter. Empowered Funds LLC owned 0.08% of Talen Energy worth $12,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after acquiring an additional 627,467 shares during the last quarter. Norges Bank acquired a new stake in Talen Energy in the 4th quarter worth approximately $225,930,000. Invesco Ltd. grew its position in Talen Energy by 77.5% during the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock worth $452,189,000 after purchasing an additional 464,014 shares during the last quarter. Sachem Head Capital Management LP increased its stake in Talen Energy by 72.4% during the 4th quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider’s stock valued at $374,840,000 after purchasing an additional 420,000 shares in the last quarter. Finally, Deltroit Asset Management UK LLP purchased a new position in shares of Talen Energy in the fourth quarter worth $103,081,000. 0.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group started coverage on shares of Talen Energy in a research note on Thursday, June 18th. They set a “buy” rating and a $499.00 price objective for the company. Jefferies Financial Group reduced 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. Barclays lowered their price target on Talen Energy from $411.00 to $408.00 and set an “overweight” rating for the company in a research report on Tuesday. Raymond James Financial reiterated an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a research note on Monday, April 27th. Finally, Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Talen Energy presently has an average rating of “Moderate Buy” and a consensus price target of $476.45.

Talen Energy Stock Down 3.0%

TLN stock opened at $316.19 on Thursday. The company has a market capitalization of $15.15 billion, a P/E ratio of -471.92 and a beta of 1.82. Talen Energy Corporation has a 12 month low of $301.45 and a 12 month high of $451.28. The firm’s fifty day simple moving average is $379.35 and its 200-day simple moving average is $360.63. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05.

Insider Transactions at Talen Energy

In related 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 completion of the transaction, the director directly owned 2,606 shares in the company, valued at $990,280. The trade was a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.78% of the stock is 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).