Talen Energy Corporation $TLN Stake Boosted by Whittier Trust Co.

Whittier Trust Co. boosted its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 10.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 37,600 shares of the utilities provider’s stock after purchasing an additional 3,552 shares during the quarter. Whittier Trust Co.’s holdings in Talen Energy were worth $12,186,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TLN. Amundi acquired a new position in Talen Energy in the 1st quarter worth approximately $299,000. AQR Capital Management LLC acquired a new stake in shares of Talen Energy in the first quarter worth $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Talen Energy by 11.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock worth $1,454,000 after buying an additional 761 shares during the period. NewEdge Advisors LLC raised its position in Talen Energy by 17,400.0% during the first quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock valued at $175,000 after buying an additional 870 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Talen Energy by 15.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock valued at $9,794,000 after buying an additional 6,498 shares during the period. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Gizman I. Abbas sold 2,600 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the sale, the director owned 2,606 shares in the company, valued at approximately $990,280. This represents a 49.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.78% of the company’s stock.

Talen Energy Stock Down 2.9%

Shares of Talen Energy stock traded down $10.91 during midday trading on Tuesday, reaching $366.88. 85,269 shares of the company’s stock traded hands, compared to its average volume of 834,419. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. Talen Energy Corporation has a 52 week low of $255.50 and a 52 week high of $451.28. The company’s 50 day simple moving average is $377.34 and its 200 day simple moving average is $361.63. The company has a market cap of $17.57 billion, a price-to-earnings ratio of -547.56 and a beta of 1.82.

Wall Street Analyst Weigh In

A number of brokerages have commented on TLN. BNP Paribas Exane started coverage on Talen Energy in a research report on Wednesday, March 18th. They set an “outperform” rating and a $548.00 price objective for the company. Morgan Stanley reissued an “overweight” rating and issued a $508.00 price target on shares of Talen Energy in a research report on Wednesday, June 24th. The Goldman Sachs Group started coverage on shares of Talen Energy in a research report on Thursday, June 18th. They set a “buy” rating and a $499.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, Raymond James Financial reissued an “outperform” rating and set a $457.00 target price on shares of Talen Energy in a research note on Monday, April 27th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $458.77.

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).