Talen Energy Corporation $TLN Shares Bought by Sunbelt Securities Inc.

Sunbelt Securities Inc. grew its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 2,932.5% in the first quarter, Holdings Channel reports. The institutional investor owned 7,187 shares of the utilities provider’s stock after purchasing an additional 6,950 shares during the period. Sunbelt Securities Inc.’s holdings in Talen Energy were worth $2,294,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Fred Alger Management LLC increased its holdings in shares of Talen Energy by 8.4% in the 4th quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider’s stock valued at $676,247,000 after acquiring an additional 140,345 shares during the last quarter. Reaves W H & Co. Inc. raised its position in shares of Talen Energy by 7.9% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock worth $570,393,000 after acquiring an additional 111,160 shares in the last quarter. Invesco Ltd. lifted its stake in Talen Energy by 35.6% during the fourth quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider’s stock worth $540,287,000 after purchasing an additional 378,357 shares during the last quarter. State Street Corp lifted its stake in Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after purchasing an additional 627,467 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Talen Energy by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 1,049,196 shares of the utilities provider’s stock valued at $409,559,000 after purchasing an additional 87,784 shares in the last quarter. 0.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the sale, the director owned 2,606 shares in the company, valued at approximately $990,280. The trade was a 49.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.78% of the company’s stock.

Talen Energy Stock Down 3.0%

Shares of NASDAQ TLN opened at $316.19 on Thursday. The business has a 50-day moving average price of $379.35 and a 200 day moving average price of $360.63. The stock has a market cap of $15.15 billion, a PE ratio of -471.92 and a beta of 1.82. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32. Talen Energy Corporation has a 52-week low of $301.45 and a 52-week high of $451.28.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TLN shares. Morgan Stanley reiterated an “overweight” rating and issued a $508.00 price target on shares of Talen Energy in a research note on Wednesday, June 24th. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Jefferies Financial Group lowered their target price on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a report on Monday, July 20th. Barclays dropped their target price on shares of Talen Energy from $411.00 to $408.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Scotiabank lifted their price target on shares of Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 15th. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $476.45.

Talen Energy 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).