Kayne Anderson Capital Advisors LP Invests $2.66 Million in Talen Energy Corporation $TLN

Kayne Anderson Capital Advisors LP purchased a new position in Talen Energy Corporation (NASDAQ:TLN) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,928 shares of the utilities provider’s stock, valued at approximately $2,662,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TLN. Advisory Services Network LLC acquired a new stake in Talen Energy during the third quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Talen Energy by 1,500.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 90 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Talen Energy in the 2nd quarter worth approximately $38,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Talen Energy in the 4th quarter valued at approximately $39,000. Finally, Bessemer Group Inc. increased its holdings in shares of Talen Energy by 404.0% in the 1st quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 101 shares during the last quarter. 0.38% of the stock is owned by institutional investors.

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 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 completion of the transaction, the director owned 2,606 shares in the company, valued at approximately $990,280. The trade was a 49.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.78% of the stock is owned by insiders.

Talen Energy Stock Performance

TLN opened at $316.99 on Friday. The business’s 50 day moving average is $370.07 and its 200-day moving average is $357.47. The stock has a market cap of $15.19 billion, a PE ratio of -76.02 and a beta of 1.90. The company has a current ratio of 0.78, a quick ratio of 0.55 and a debt-to-equity ratio of 5.82. Talen Energy Corporation has a twelve month low of $301.45 and a twelve month high of $451.28.

Talen Energy (NASDAQ:TLN) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $832.81 million. On average, analysts predict that Talen Energy Corporation will post 25.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TLN. The Goldman Sachs Group reissued a “buy” rating and set a $509.00 price target on shares of Talen Energy in a research report on Monday, August 10th. Jefferies Financial Group decreased their price objective 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. Wall Street Zen lowered shares of Talen Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. BNP Paribas Exane reissued an “outperform” rating and set a $560.00 target price on shares of Talen Energy in a report on Wednesday. Finally, Scotiabank raised 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 report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Talen Energy presently has an average rating of “Moderate Buy” and an average price target of $477.58.

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).