SPX Gestao de Recursos Ltda Sells 2,000 Shares of Talen Energy Corporation $TLN

SPX Gestao de Recursos Ltda cut its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 21.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,490 shares of the utilities provider’s stock after selling 2,000 shares during the period. SPX Gestao de Recursos Ltda’s holdings in Talen Energy were worth $2,391,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TLN. Amundi purchased a new stake in shares of Talen Energy during the 1st quarter worth approximately $299,000. AQR Capital Management LLC purchased a new position in shares of Talen Energy in the 1st quarter worth $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Talen Energy by 11.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock worth $1,454,000 after buying an additional 761 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Talen Energy by 17,400.0% during the 1st quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock valued at $175,000 after buying an additional 870 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Talen Energy by 15.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock valued at $9,794,000 after buying an additional 6,498 shares in the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. The Goldman Sachs Group assumed coverage on Talen Energy in a research report on Thursday, June 18th. They issued a “buy” rating and a $499.00 price target for the company. Jefferies Financial Group downgraded Talen Energy from a “buy” rating to a “hold” rating and set a $453.00 price target for the company. in a research report on Tuesday, June 23rd. Scotiabank boosted their price objective on shares of Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a research report on Wednesday. Morgan Stanley reissued an “overweight” rating and issued a $508.00 target price on shares of Talen Energy in a research note on Wednesday, June 24th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a research note on Monday, April 27th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $475.08.

Insider Buying and Selling

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the transaction, the director owned 2,606 shares of the company’s stock, valued at approximately $990,280. This trade represents a 49.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.78% of the company’s stock.

Talen Energy Stock Performance

Talen Energy stock opened at $372.37 on Friday. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. The company has a market capitalization of $17.83 billion, a PE ratio of -555.77 and a beta of 1.82. The company has a 50 day moving average price of $378.30 and a 200-day moving average price of $362.26. Talen Energy Corporation has a fifty-two week low of $300.00 and a fifty-two week high of $451.28.

Talen Energy Company 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).