Talen Energy Corporation $TLN Stock Purchased by Sterling Capital Management LLC

Sterling Capital Management LLC grew its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 1,781.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,571 shares of the utilities provider’s stock after acquiring an additional 10,956 shares during the quarter. Sterling Capital Management LLC’s holdings in Talen Energy were worth $3,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Talen Energy in the second quarter worth $1,673,803,000. MFN Partners Management LP bought a new position in Talen Energy in the second quarter valued at about $1,152,780,000. Two Seas Capital LP bought a new position in Talen Energy in the second quarter valued at about $194,900,000. William Blair Investment Management LLC purchased a new position in Talen Energy in the second quarter worth about $191,231,000. Finally, Bank of New York Mellon Corp purchased a new position in Talen Energy in the second quarter worth about $111,768,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TLN has been the subject of a number of recent research reports. New Street Research set a $405.00 price target on Talen Energy in a research note on Monday, August 24th. Weiss Ratings cut shares of Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 18th. Susquehanna set a $449.00 price objective on shares of Talen Energy in a report on Friday, August 7th. 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. Finally, Zacks Research lowered shares of Talen Energy from a “hold” rating to a “strong sell” rating in a research report on Thursday. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $461.95.

Talen Energy Trading Down 1.1%

NASDAQ:TLN opened at $327.91 on Friday. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of -78.64 and a beta of 1.82. 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 business has a fifty day moving average price of $322.69 and a 200-day moving average price of $350.75. Talen Energy Corporation has a one year low of $279.77 and a one year high of $449.84.

Talen Energy (NASDAQ:TLN) last released its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (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 $959.00 million for the quarter, compared to the consensus estimate of $832.81 million. Sell-side analysts forecast that Talen Energy Corporation will post 21.15 EPS for the current year.

About Talen Energy

Talen Energy Corporation (NASDAQ:TLN) is an independent power producer that owns and operates power generation and energy infrastructure assets in the United States. The company sells electricity, capacity and ancillary services into wholesale power markets, serving utilities, commercial and industrial customers, and other energy market participants.

Talen’s generation portfolio includes nuclear, natural gas and other power assets. Its Susquehanna nuclear power station in Pennsylvania is a central part of the company’s operations, and Talen has also pursued energy infrastructure projects designed to support large-scale electricity users, including data centers and other technology-related facilities.

The company was formed in 2015 through the separation of competitive power generation assets from PPL Corporation.