Strs Ohio Sells 16,998 Shares of Talen Energy Corporation $TLN

Strs Ohio lessened its stake in Talen Energy Corporation (NASDAQ:TLN) by 62.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,087 shares of the utilities provider’s stock after selling 16,998 shares during the quarter. Strs Ohio’s holdings in Talen Energy were worth $3,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp increased its stake in Talen Energy by 88.2% during the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after purchasing an additional 627,467 shares in the last quarter. Invesco Ltd. raised its holdings in Talen Energy by 77.5% in the third quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock worth $452,189,000 after buying an additional 464,014 shares during the last quarter. Voloridge Investment Management LLC lifted its stake in shares of Talen Energy by 475.3% in the third quarter. Voloridge Investment Management LLC now owns 259,475 shares of the utilities provider’s stock worth $110,375,000 after buying an additional 214,371 shares in the last quarter. Palestra Capital Management LLC purchased a new stake in shares of Talen Energy during the third quarter valued at approximately $81,486,000. Finally, Reaves W H & Co. Inc. grew its holdings in shares of Talen Energy by 12.6% during the third quarter. Reaves W H & Co. Inc. now owns 1,410,537 shares of the utilities provider’s stock valued at $600,014,000 after buying an additional 158,047 shares during the last quarter. Institutional investors own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TLN. Morgan Stanley set a $498.00 price objective on shares of Talen Energy in a report on Friday. Wells Fargo & Company lifted their target price on Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Barclays lowered their price target on Talen Energy from $425.00 to $408.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. JPMorgan Chase & Co. dropped their price objective on Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Finally, Weiss Ratings downgraded Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, February 27th. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $450.67.

Talen Energy Trading Up 0.1%

NASDAQ:TLN opened at $384.90 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 6.20. Talen Energy Corporation has a 12 month low of $220.59 and a 12 month high of $451.28. The company has a market cap of $17.47 billion, a PE ratio of -77.91 and a beta of 1.90. The company has a 50 day simple moving average of $339.44 and a two-hundred day simple moving average of $362.43.

Talen Energy (NASDAQ:TLN) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.33 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($3.68). The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.05 billion. Talen Energy had a negative net margin of 8.49% and a positive return on equity of 22.58%. During the same period in the previous year, the company earned ($2.94) earnings per share. Research analysts forecast that Talen Energy Corporation will post 24.22 earnings per share for the current 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).