Strs Ohio Has $11.52 Million Stake in Talen Energy Corporation $TLN

Strs Ohio increased its stake in Talen Energy Corporation (NASDAQ:TLN) by 328.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,085 shares of the utilities provider’s stock after purchasing an additional 20,764 shares during the period. Strs Ohio’s holdings in Talen Energy were worth $11,521,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its holdings in shares of Talen Energy by 33.9% during the second quarter. Envestnet Asset Management Inc. now owns 38,312 shares of the utilities provider’s stock worth $11,140,000 after buying an additional 9,692 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in Talen Energy during the 2nd quarter worth approximately $478,000. Maryland State Retirement & Pension System bought a new position in shares of Talen Energy during the 2nd quarter worth approximately $641,000. Securian Asset Management Inc. bought a new position in shares of Talen Energy during the 3rd quarter worth approximately $1,481,000. Finally, Voya Investment Management LLC raised its holdings in shares of Talen Energy by 57.8% in the third quarter. Voya Investment Management LLC now owns 9,288 shares of the utilities provider’s stock valued at $3,951,000 after purchasing an additional 3,402 shares during the last quarter. Institutional investors own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Morgan Stanley increased their target price on shares of Talen Energy from $443.00 to $470.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. JPMorgan Chase & Co. boosted their price target on shares of Talen Energy from $432.00 to $442.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Wells Fargo & Company raised their price objective on Talen Energy from $445.00 to $506.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Barclays lifted their target price on Talen Energy from $439.00 to $457.00 and gave the company an “overweight” rating in a research report on Friday, January 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Talen Energy in a report on Wednesday. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $400.92.

Talen Energy Stock Performance

Shares of NASDAQ:TLN opened at $366.43 on Monday. Talen Energy Corporation has a 12-month low of $158.08 and a 12-month high of $451.28. The company’s 50 day moving average price is $374.12 and its two-hundred day moving average price is $379.42. The firm has a market cap of $16.74 billion, a PE ratio of 79.31, a PEG ratio of 0.55 and a beta of 1.97. The company has a quick ratio of 1.72, a current ratio of 2.29 and a debt-to-equity ratio of 2.02.

Talen Energy (NASDAQ:TLN) last issued its quarterly earnings results 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 business had revenue of $812.00 million during the quarter, compared to analysts’ expectations of $707.90 million. Talen Energy had a return on equity of 13.52% and a net margin of 9.83%.The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.16 earnings per share. Equities research analysts predict that Talen Energy Corporation will post 15.94 earnings per share 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).