State of Wyoming Invests $2.20 Million in Talen Energy Corporation $TLN

State of Wyoming purchased a new stake in Talen Energy Corporation (NASDAQ:TLN) in the second quarter, Holdings Channel reports. The firm purchased 5,731 shares of the utilities provider’s stock, valued at approximately $2,202,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Talen Energy by 1,526.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,054 shares of the utilities provider’s stock worth $9,766,000 after buying an additional 24,452 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Talen Energy by 400.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 14,105 shares of the utilities provider’s stock valued at $5,287,000 after buying an additional 11,287 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of Talen Energy by 116.8% during the 4th quarter. Sanctuary Advisors LLC now owns 6,454 shares of the utilities provider’s stock valued at $2,419,000 after buying an additional 3,477 shares during the last quarter. US Bancorp DE raised its stake in Talen Energy by 4.3% during the fourth quarter. US Bancorp DE now owns 105,848 shares of the utilities provider’s stock worth $39,676,000 after acquiring an additional 4,407 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in Talen Energy by 10.7% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 117,200 shares of the utilities provider’s stock worth $43,931,000 after acquiring an additional 11,300 shares during the period. 0.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TLN. Jefferies Financial Group cut their target price on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a report on Monday, July 20th. Wall Street Zen cut Talen Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Barclays dropped their price target on Talen Energy from $411.00 to $408.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 28th. Zacks Research raised Talen Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, Susquehanna set a $449.00 price objective on Talen Energy in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Talen Energy currently has an average rating of “Moderate Buy” and a consensus price target of $476.58.

Talen Energy Stock Performance

TLN stock opened at $362.74 on Friday. The company has a 50-day simple moving average of $371.89 and a 200 day simple moving average of $358.27. The company has a market capitalization of $17.38 billion, a P/E ratio of -86.99 and a beta of 1.90. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82. Talen Energy Corporation has a fifty-two week low of $301.45 and a fifty-two week high of $451.28.

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

Insider Buying and Selling at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the 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 transaction, the director directly owned 2,606 shares in the company, valued at $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.78% of the company’s stock.

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).