Oppenheimer Asset Management Inc. Buys Shares of 10,752 Talen Energy Corporation $TLN

Oppenheimer Asset Management Inc. purchased a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,752 shares of the utilities provider’s stock, valued at approximately $4,132,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TLN. Dockside LLC acquired a new position in shares of Talen Energy in the second quarter valued at approximately $1,916,000. FNY Investment Advisers LLC acquired a new stake in Talen Energy during the second quarter worth approximately $79,000. Assenagon Asset Management S.A. boosted its position in Talen Energy by 183.3% during the second quarter. Assenagon Asset Management S.A. now owns 434,728 shares of the utilities provider’s stock worth $167,049,000 after acquiring an additional 281,291 shares during the last quarter. GAMMA Investing LLC grew its stake in Talen Energy by 63.8% in the 2nd quarter. GAMMA Investing LLC now owns 701 shares of the utilities provider’s stock worth $269,000 after acquiring an additional 273 shares during the period. Finally, Harbor Investment Advisory LLC purchased a new stake in Talen Energy in the 2nd quarter worth approximately $62,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the sale, the director directly owned 2,606 shares in the company, valued at $990,280. This represents a 49.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.78% of the stock is currently owned by insiders.

Talen Energy Price Performance

Talen Energy stock opened at $362.74 on Friday. Talen Energy Corporation has a 1 year low of $301.45 and a 1 year high of $451.28. The company has a debt-to-equity ratio of 5.82, a quick ratio of 0.55 and a current ratio of 0.78. The firm has a 50 day moving average price of $371.89 and a 200 day moving average price of $358.27. The company has a market cap of $17.38 billion, a price-to-earnings ratio of -86.99 and a beta of 1.90.

Talen Energy (NASDAQ:TLN) last posted its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing analysts’ consensus estimates of $3.21 by ($5.21). The company had revenue of $747.00 million for the quarter, compared to analysts’ expectations of $832.81 million. Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%. Sell-side analysts predict that Talen Energy Corporation will post 25.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TLN. Wall Street Zen downgraded Talen Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Jefferies Financial Group decreased their price objective on Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a report on Monday, July 20th. Zacks Research raised Talen Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Raymond James Financial reiterated an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a research note on Monday, April 27th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $508.00 target price on shares of Talen Energy in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Talen Energy presently has an average rating of “Moderate Buy” and an average price target of $476.58.

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).