William Blair Investment Management LLC Takes $191.23 Million Position in Talen Energy Corporation $TLN

William Blair Investment Management LLC purchased a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 497,660 shares of the utilities provider’s stock, valued at approximately $191,231,000. William Blair Investment Management LLC owned approximately 1.04% of Talen Energy at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TLN. Advisory Services Network LLC bought a new position in shares of Talen Energy in the third quarter worth $35,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Talen Energy by 1,500.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock valued at $36,000 after buying an additional 90 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Talen Energy during the 2nd quarter worth approximately $38,000. Silvant Capital Management LLC acquired a new stake in shares of Talen Energy during the 2nd quarter worth approximately $42,000. Finally, Bessemer Group Inc. increased its stake in Talen Energy by 404.0% in the first quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 101 shares during the last quarter. 0.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction 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 transaction, the director directly owned 2,606 shares in the company, valued at approximately $990,280. This represents a 49.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.78% of the company’s stock.

Talen Energy Price Performance

TLN stock opened at $314.46 on Friday. The stock has a market cap of $15.07 billion, a price-to-earnings ratio of -75.41 and a beta of 1.90. The company has a debt-to-equity ratio of 5.82, a current ratio of 0.78 and a quick ratio of 0.55. The company has a 50 day simple moving average of $369.15 and a 200 day simple moving average of $357.17. Talen Energy Corporation has a 1 year low of $301.45 and a 1 year high of $451.28.

Talen Energy (NASDAQ:TLN) last issued its 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 during the quarter, compared to analyst estimates of $832.81 million. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. Research analysts anticipate that Talen Energy Corporation will post 25.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Jefferies Financial Group cut their target price on Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a research note on Monday, July 20th. Zacks Research upgraded Talen Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Wells Fargo & Company boosted their price target on Talen Energy from $482.00 to $501.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Susquehanna set a $449.00 price objective on Talen Energy in a research report on Friday, August 7th. Finally, Weiss Ratings lowered Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $477.17.

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).