Talen Energy Corporation $TLN Shares Acquired by First Trust Advisors LP

First Trust Advisors LP increased its holdings in Talen Energy Corporation (NASDAQ:TLN) by 5.7% during the 1st quarter, HoldingsChannel reports. The fund owned 61,815 shares of the utilities provider’s stock after acquiring an additional 3,327 shares during the quarter. First Trust Advisors LP’s holdings in Talen Energy were worth $19,733,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Himension Capital Singapore PTE. LTD. acquired a new stake in Talen Energy during the 1st quarter valued at approximately $524,000. PNC Financial Services Group Inc. raised its position in shares of Talen Energy by 8.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,014 shares of the utilities provider’s stock valued at $643,000 after purchasing an additional 152 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Talen Energy by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 110,025 shares of the utilities provider’s stock valued at $35,110,000 after purchasing an additional 3,654 shares in the last quarter. KBC Group NV boosted its stake in shares of Talen Energy by 8.9% during the 1st quarter. KBC Group NV now owns 1,197 shares of the utilities provider’s stock valued at $382,000 after buying an additional 98 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of Talen Energy by 0.4% during the 1st quarter. Swiss National Bank now owns 76,840 shares of the utilities provider’s stock valued at $24,530,000 after buying an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TLN shares. The Goldman Sachs Group started coverage on shares of Talen Energy in a research report on Thursday, June 18th. They set a “buy” rating and a $499.00 price target for the company. Wells Fargo & Company upped their price target on shares of Talen Energy from $477.00 to $482.00 and gave the company an “overweight” rating in a report on Monday. Jefferies Financial Group reduced their price objective on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. Barclays reduced their price objective on shares of Talen Energy from $411.00 to $408.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Scotiabank raised their price objective on shares of Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 15th. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Talen Energy has an average rating of “Moderate Buy” and an average price target of $476.45.

Talen Energy Trading Down 3.0%

Shares of NASDAQ TLN opened at $316.19 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32. The stock’s 50 day moving average price is $379.35 and its two-hundred day moving average price is $360.63. Talen Energy Corporation has a 52-week low of $301.45 and a 52-week high of $451.28. The stock has a market capitalization of $15.15 billion, a P/E ratio of -471.92 and a beta of 1.82.

Insider Activity at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the sale, the director directly owned 2,606 shares in the company, valued at approximately $990,280. The trade was a 49.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.78% of the company’s stock.

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).