Mutual Advisors LLC Buys Shares of 5,841 Talen Energy Corporation $TLN

Mutual Advisors LLC purchased a new stake in Talen Energy Corporation (NASDAQ:TLN) in the third quarter, Holdings Channel.com reports. The fund purchased 5,841 shares of the utilities provider’s stock, valued at approximately $2,485,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TLN. MAI Capital Management grew its position in Talen Energy by 115.7% during the second quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock worth $32,000 after buying an additional 59 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in Talen Energy by 8.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 787 shares of the utilities provider’s stock valued at $335,000 after purchasing an additional 59 shares in the last quarter. Main Management ETF Advisors LLC increased its stake in Talen Energy by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 3,665 shares of the utilities provider’s stock valued at $1,066,000 after purchasing an additional 60 shares in the last quarter. Wedbush Securities Inc. raised its holdings in Talen Energy by 4.8% during the second quarter. Wedbush Securities Inc. now owns 1,379 shares of the utilities provider’s stock worth $401,000 after purchasing an additional 63 shares during the last quarter. Finally, Grove Bank & Trust purchased a new stake in Talen Energy during the third quarter worth $32,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Barclays lifted their price target on Talen Energy from $439.00 to $457.00 and gave the stock an “overweight” rating in a research note on Friday, January 9th. Wells Fargo & Company upped their price target on shares of Talen Energy from $445.00 to $506.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Talen Energy in a research note on Wednesday, January 21st. Morgan Stanley upped their target price on Talen Energy from $443.00 to $470.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Finally, JPMorgan Chase & Co. increased their target price on Talen Energy from $432.00 to $442.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Talen Energy presently has an average rating of “Moderate Buy” and an average price target of $413.25.

Talen Energy Stock Performance

NASDAQ:TLN opened at $340.80 on Tuesday. The company has a quick ratio of 1.72, a current ratio of 2.29 and a debt-to-equity ratio of 2.02. The company has a market cap of $15.57 billion, a P/E ratio of 73.77, a P/E/G ratio of 0.52 and a beta of 1.97. Talen Energy Corporation has a fifty-two week low of $158.08 and a fifty-two week high of $451.28. The firm’s 50 day moving average is $371.66 and its two-hundred day moving average is $382.97.

Talen Energy (NASDAQ:TLN) last announced its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.01 by $0.24. The company had revenue of $812.00 million during the quarter, compared to analysts’ expectations of $707.90 million. Talen Energy had a net margin of 9.83% and a return on equity of 13.52%. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.16 EPS. Analysts expect that Talen Energy Corporation will post 15.94 EPS for the current year.

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).