Federated Hermes Inc. Buys Shares of 4,081 Talen Energy Corporation $TLN

Federated Hermes Inc. purchased a new position in shares of Talen Energy Corporation (NASDAQ:TLN) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,081 shares of the utilities provider’s stock, valued at approximately $1,736,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlantic Union Bankshares Corp acquired a new stake in shares of Talen Energy during the second quarter worth $27,000. MAI Capital Management lifted its holdings in Talen Energy by 115.7% in the second quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock valued at $32,000 after buying an additional 59 shares during the period. Grove Bank & Trust bought a new stake in Talen Energy during the third quarter valued at $32,000. Golden State Wealth Management LLC grew its holdings in Talen Energy by 5,100.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 156 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 153 shares during the period. Finally, Berbice Capital Management LLC bought a new position in shares of Talen Energy in the 2nd quarter worth about $49,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Analysts Set New Price Targets

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

Talen Energy Trading Down 7.1%

NASDAQ TLN opened at $317.05 on Thursday. The company has a market cap of $14.49 billion, a price-to-earnings ratio of 68.63, a P/E/G ratio of 0.51 and a beta of 1.98. Talen Energy Corporation has a 52 week low of $158.08 and a 52 week high of $451.28. The business has a 50 day moving average price of $369.40 and a 200-day moving average price of $382.60. The company has a quick ratio of 1.72, a current ratio of 2.29 and a debt-to-equity ratio of 2.02.

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