Thornburg Investment Management Inc. Buys 8,978 Shares of Talen Energy Corporation $TLN

Thornburg Investment Management Inc. lifted its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 22.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 49,589 shares of the utilities provider’s stock after buying an additional 8,978 shares during the period. Thornburg Investment Management Inc.’s holdings in Talen Energy were worth $19,055,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. bought a new position in Talen Energy in the 2nd quarter valued at about $4,132,000. Oppenheimer & Co. Inc. lifted its holdings in shares of Talen Energy by 400.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 14,105 shares of the utilities provider’s stock worth $5,287,000 after acquiring an additional 11,287 shares during the period. Ninepoint Partners LP bought a new stake in shares of Talen Energy during the 2nd quarter worth approximately $1,694,000. Sanctuary Advisors LLC boosted its position in shares of Talen Energy by 116.8% during the 4th quarter. Sanctuary Advisors LLC now owns 6,454 shares of the utilities provider’s stock worth $2,419,000 after acquiring an additional 3,477 shares in the last quarter. Finally, 180 GPS Investments IC Ltd acquired a new stake in shares of Talen Energy during the 2nd quarter worth approximately $8,636,000. Institutional investors own 0.38% of the company’s stock.

Talen Energy Price Performance

Shares of NASDAQ:TLN opened at $296.11 on Friday. Talen Energy Corporation has a one year low of $294.75 and a one year high of $451.28. The company has a debt-to-equity ratio of 5.82, a current ratio of 0.78 and a quick ratio of 0.55. The company has a market cap of $14.19 billion, a price-to-earnings ratio of -71.01 and a beta of 1.90. The firm has a 50 day simple moving average of $358.05 and a 200 day simple moving average of $356.13.

Talen Energy (NASDAQ:TLN) last posted its earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing analysts’ consensus estimates 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 positive return on equity of 43.32% and a negative net margin of 5.38%. Research analysts predict that Talen Energy Corporation will post 21.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on TLN. Wall Street Zen downgraded shares of Talen Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Morgan Stanley reduced their target price on Talen Energy from $508.00 to $503.00 and set an “overweight” rating on the stock in a report on Friday, August 21st. Wells Fargo & Company boosted their price target on Talen Energy from $482.00 to $501.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings downgraded Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 18th. Finally, Zacks Research lowered Talen Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Talen Energy has a consensus rating of “Moderate Buy” and an average price target of $466.86.

Insider Buying and Selling at Talen Energy

In related news, Director Gizman I. Abbas sold 2,600 shares of the firm’s 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 sale, 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 legal filing with the SEC, which is available through this hyperlink. 0.78% of the stock is currently owned by company insiders.

Talen Energy Company 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).