Healthcare of Ontario Pension Plan Trust Fund Acquires Shares of 9,500 Talen Energy Corporation $TLN

Healthcare of Ontario Pension Plan Trust Fund bought a new position in Talen Energy Corporation (NASDAQ:TLN) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 9,500 shares of the utilities provider’s stock, valued at approximately $3,033,000.

Other institutional investors have also modified their holdings of the company. State Street Corp boosted its holdings in shares of Talen Energy by 88.2% in the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after purchasing an additional 627,467 shares during the period. Norges Bank purchased a new position in Talen Energy during the 4th quarter worth $225,930,000. Invesco Ltd. raised its position in Talen Energy by 77.5% during the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock valued at $452,189,000 after purchasing an additional 464,014 shares in the last quarter. Sachem Head Capital Management LP raised its position in Talen Energy by 72.4% during the 4th quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider’s stock valued at $374,840,000 after purchasing an additional 420,000 shares in the last quarter. Finally, Deltroit Asset Management UK LLP purchased a new stake in shares of Talen Energy in the 4th quarter worth $103,081,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the transaction, the director owned 2,606 shares in the company, valued at $990,280. The trade was a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.78% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TLN has been the topic of a number of recent research reports. Scotiabank increased their price target on Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 15th. Barclays lowered their price objective on shares of Talen Energy from $411.00 to $408.00 and set an “overweight” rating for the company in a research note on Tuesday. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. The Goldman Sachs Group began coverage on shares of Talen Energy in a research report on Thursday, June 18th. They set a “buy” rating and a $499.00 target price on the stock. Finally, Morgan Stanley restated an “overweight” rating and issued a $508.00 price target on shares of Talen Energy in a report on Wednesday, June 24th. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $476.45.

Talen Energy Trading Up 5.2%

Shares of NASDAQ:TLN opened at $332.54 on Friday. The company has a market capitalization of $15.93 billion, a PE ratio of -496.32 and a beta of 1.82. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. Talen Energy Corporation has a 12-month low of $301.45 and a 12-month high of $451.28. The business’s fifty day simple moving average is $378.79 and its 200-day simple moving average is $360.36.

Talen Energy News Summary

Here are the key news stories impacting Talen Energy this week:

• Positive Sentiment: Zacks upgraded Talen Energy to Strong Buy, citing strengthening earnings prospects. The upgrade could attract additional buying ahead of the company’s upcoming results. All You Need to Know About Talen Energy Corporation Rating Upgrade to Strong Buy
• Positive Sentiment: Wall Street expects earnings growth in next week’s report, with Zacks indicating that Talen Energy has factors that could support an earnings beat. This is raising expectations ahead of the announcement, although it also creates execution risk if results disappoint. Talen Energy Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Wells Fargo and Goldman Sachs maintained Buy ratings on Talen Energy, reinforcing favorable institutional analyst sentiment. Wells Fargo Remains a Buy on Talen Energy Goldman Sachs Remains a Buy on Talen Energy
• Neutral Sentiment: Commentary identified TLN as positioned to benefit from long-term clean-energy demand, including renewable power growth and rising electricity needs from electric-vehicle adoption. The theme is supportive but does not represent a specific new contract or financial announcement. Talen Energy Powers a Fresh Market Story

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).