Thrivent Financial for Lutherans Raises Stake in Talen Energy Corporation $TLN

Thrivent Financial for Lutherans increased its holdings in Talen Energy Corporation (NASDAQ:TLN) by 70.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,257 shares of the utilities provider’s stock after buying an additional 14,122 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Talen Energy were worth $14,572,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TLN. Geode Capital Management LLC boosted its holdings in shares of Talen Energy by 26.1% in the 2nd quarter. Geode Capital Management LLC now owns 794,754 shares of the utilities provider’s stock valued at $231,150,000 after acquiring an additional 164,734 shares during the last quarter. Third Point LLC lifted its position in Talen Energy by 34.2% during the second quarter. Third Point LLC now owns 785,000 shares of the utilities provider’s stock valued at $228,254,000 after purchasing an additional 200,000 shares during the period. State Street Corp lifted its position in Talen Energy by 151.0% during the second quarter. State Street Corp now owns 711,231 shares of the utilities provider’s stock valued at $206,805,000 after purchasing an additional 427,910 shares during the period. Invesco Ltd. boosted its holdings in Talen Energy by 18.9% in the second quarter. Invesco Ltd. now owns 599,010 shares of the utilities provider’s stock valued at $174,174,000 after purchasing an additional 95,147 shares during the last quarter. Finally, Norges Bank acquired a new stake in Talen Energy during the 2nd quarter worth about $168,188,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TLN. Barclays boosted their price objective on Talen Energy from $439.00 to $457.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Weiss Ratings restated a “hold (c)” rating on shares of Talen Energy in a research report on Wednesday, January 21st. Morgan Stanley lifted their target price on shares of Talen Energy from $443.00 to $470.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Wells Fargo & Company increased their price target on shares of Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of Talen Energy from $432.00 to $442.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Talen Energy currently has a consensus rating of “Moderate Buy” and an average target price of $413.25.

Talen Energy Price Performance

Shares of NASDAQ TLN opened at $317.05 on Thursday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.72 and a current ratio of 2.29. The firm has a fifty day moving average of $369.40 and a 200 day moving average of $382.60. The firm has a market cap of $14.49 billion, a PE ratio of 68.63, a PEG ratio of 0.51 and a beta of 1.98. Talen Energy Corporation has a one year low of $158.08 and a one year high of $451.28.

Talen Energy (NASDAQ:TLN) last announced its earnings results on Wednesday, November 5th. The utilities provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.01 by $0.24. Talen Energy had a net margin of 9.83% and a return on equity of 13.52%. The business had revenue of $812.00 million for the quarter, compared to analyst estimates of $707.90 million. During the same quarter last year, the business earned $3.16 earnings per share. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, research analysts predict that Talen Energy Corporation will post 15.94 EPS 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).