Oppenheimer Asset Management Inc. Acquires Shares of 10,752 Talen Energy Corporation $TLN

Oppenheimer Asset Management Inc. bought a new stake in Talen Energy Corporation (NASDAQ:TLN) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,752 shares of the utilities provider’s stock, valued at approximately $4,132,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TLN. Dockside LLC purchased a new stake in Talen Energy during the 2nd quarter valued at approximately $1,916,000. FNY Investment Advisers LLC purchased a new position in shares of Talen Energy in the 2nd quarter valued at approximately $79,000. Assenagon Asset Management S.A. grew its stake in shares of Talen Energy by 183.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 434,728 shares of the utilities provider’s stock valued at $167,049,000 after purchasing an additional 281,291 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Talen Energy by 63.8% in the second quarter. GAMMA Investing LLC now owns 701 shares of the utilities provider’s stock valued at $269,000 after purchasing an additional 273 shares during the period. Finally, Harbor Investment Advisory LLC acquired a new position in shares of Talen Energy in the second quarter valued at approximately $62,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Up 1.2%

TLN stock opened at $362.74 on Friday. The company’s 50 day simple moving average is $371.89 and its 200-day simple moving average is $358.27. The firm has a market capitalization of $17.38 billion, a PE ratio of -86.99 and a beta of 1.90. Talen Energy Corporation has a 12 month low of $301.45 and a 12 month high of $451.28. The company has a debt-to-equity ratio of 5.82, a current ratio of 0.78 and a quick ratio of 0.55.

Talen Energy (NASDAQ:TLN) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing analysts’ consensus estimates of $3.21 by ($5.21). Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%.The business had revenue of $747.00 million for the quarter, compared to analysts’ expectations of $832.81 million. Equities analysts expect that Talen Energy Corporation will post 25.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Scotiabank increased their price target on Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 15th. Morgan Stanley reissued an “overweight” rating and issued a $508.00 price objective on shares of Talen Energy in a research note on Wednesday, June 24th. Susquehanna set a $449.00 price objective on shares of Talen Energy in a research report on Friday, August 7th. Barclays lowered their target price on shares of Talen Energy from $411.00 to $408.00 and set an “overweight” rating on the stock in a report on Tuesday, July 28th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $509.00 price target on shares of Talen Energy in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $476.58.

Insider Buying and Selling

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.78% of the company’s stock.

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).