Talen Energy Corporation $TLN Shares Purchased by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 20.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,600 shares of the utilities provider’s stock after purchasing an additional 15,800 shares during the period. Talen Energy comprises 1.3% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its 23rd largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Talen Energy were worth $28,955,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Evergreen Capital Management LLC increased its position in shares of Talen Energy by 8.0% in the 3rd quarter. Evergreen Capital Management LLC now owns 1,397 shares of the utilities provider’s stock worth $437,000 after purchasing an additional 103 shares during the last quarter. RWC Asset Management LLP raised its holdings in Talen Energy by 19.8% during the third quarter. RWC Asset Management LLP now owns 50,306 shares of the utilities provider’s stock worth $15,730,000 after purchasing an additional 8,312 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of Talen Energy by 1,781.5% in the 3rd quarter. Sterling Capital Management LLC now owns 11,571 shares of the utilities provider’s stock worth $3,618,000 after acquiring an additional 10,956 shares during the last quarter. Inspire Investing LLC boosted its holdings in shares of Talen Energy by 17.1% in the third quarter. Inspire Investing LLC now owns 2,497 shares of the utilities provider’s stock worth $781,000 after buying an additional 365 shares during the period. Finally, Crescent Grove Advisors LLC boosted its position in shares of Talen Energy by 80.1% in the third quarter. Crescent Grove Advisors LLC now owns 1,255 shares of the utilities provider’s stock worth $392,000 after buying an additional 558 shares during the period. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TLN shares. Wall Street Zen lowered shares of Talen Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. The Goldman Sachs Group reissued a “buy” rating and set a $509.00 target price on shares of Talen Energy in a research note on Monday, August 10th. Jefferies Financial Group decreased their target price on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a research note on Monday, July 20th. Mizuho assumed coverage on shares of Talen Energy in a report on Monday, August 24th. They set an “outperform” rating and a $405.00 price target on the stock. Finally, Zacks Research downgraded shares of Talen Energy from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 22nd. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Talen Energy presently has a consensus rating of “Moderate Buy” and an average target price of $461.95.

Talen Energy Stock Up 3.0%

Talen Energy stock opened at $337.78 on Tuesday. The company has a market capitalization of $16.18 billion, a P/E ratio of -81.00 and a beta of 1.82. The firm’s fifty day simple moving average is $323.11 and its 200-day simple moving average is $350.01. 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 1-year low of $279.77 and a 1-year high of $449.84.

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 analysts’ consensus estimates of $3.21 by ($5.21). The business had revenue of $959.00 million during the quarter, compared to the consensus estimate of $832.81 million. Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%. Sell-side analysts forecast that Talen Energy Corporation will post 21.15 earnings per share for the current fiscal year.

About Talen Energy

Talen Energy Corporation (NASDAQ:TLN) is an independent power producer that owns and operates power generation and energy infrastructure assets in the United States. The company sells electricity, capacity and ancillary services into wholesale power markets, serving utilities, commercial and industrial customers, and other energy market participants.

Talen’s generation portfolio includes nuclear, natural gas and other power assets. Its Susquehanna nuclear power station in Pennsylvania is a central part of the company’s operations, and Talen has also pursued energy infrastructure projects designed to support large-scale electricity users, including data centers and other technology-related facilities.

The company was formed in 2015 through the separation of competitive power generation assets from PPL Corporation.