Royal Bank of Canada Boosts Position in Talen Energy Corporation $TLN

Royal Bank of Canada raised its position in Talen Energy Corporation (NASDAQ:TLN) by 21.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 147,394 shares of the utilities provider’s stock after purchasing an additional 25,850 shares during the period. Royal Bank of Canada owned about 0.32% of Talen Energy worth $47,052,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Fred Alger Management LLC raised its stake in shares of Talen Energy by 8.4% during the 4th quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider’s stock worth $676,247,000 after buying an additional 140,345 shares during the last quarter. Reaves W H & Co. Inc. grew its stake in Talen Energy by 7.9% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock valued at $570,393,000 after acquiring an additional 111,160 shares during the last quarter. Invesco Ltd. increased its holdings in Talen Energy by 35.6% during the 4th quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider’s stock valued at $540,287,000 after acquiring an additional 378,357 shares in the last quarter. State Street Corp raised its position in Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after acquiring an additional 627,467 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Talen Energy by 9.1% during the fourth quarter. Geode Capital Management LLC now owns 1,049,196 shares of the utilities provider’s stock worth $409,559,000 after acquiring an additional 87,784 shares during the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Insider Transactions at Talen Energy

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction that occurred on Monday, June 15th. The shares were 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 of the company’s stock, valued at approximately $990,280. The trade was a 49.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.78% of the company’s stock.

Talen Energy Stock Performance

Shares of NASDAQ TLN opened at $334.10 on Monday. The company has a 50-day simple moving average of $378.03 and a 200-day simple moving average of $360.12. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05. The company has a market cap of $16.00 billion, a PE ratio of -498.65 and a beta of 1.90. Talen Energy Corporation has a 12 month low of $301.45 and a 12 month high of $451.28.

Wall Street Analyst Weigh In

Several analysts have issued reports on TLN shares. Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Morgan Stanley restated an “overweight” rating and set a $508.00 price objective on shares of Talen Energy in a research report on Wednesday, June 24th. Barclays reduced their target price on Talen Energy from $411.00 to $408.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 28th. Scotiabank increased their target price on Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a report on Wednesday, July 15th. Finally, Raymond James Financial reissued an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $476.45.

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).