Talen Energy Corporation $TLN Shares Newly Bought by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC bought a new stake in Talen Energy Corporation (NASDAQ:TLN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,596 shares of the utilities provider’s stock, valued at approximately $499,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Talen Energy during the second quarter worth $1,673,803,000. MFN Partners Management LP purchased a new position in shares of Talen Energy in the second quarter worth about $1,152,780,000. Carronade Capital Management LP lifted its stake in shares of Talen Energy by 11.6% in the first quarter. Carronade Capital Management LP now owns 644,484 shares of the utilities provider’s stock worth $205,739,000 after buying an additional 67,245 shares in the last quarter. Two Seas Capital LP purchased a new position in shares of Talen Energy in the second quarter worth about $194,900,000. Finally, William Blair Investment Management LLC acquired a new position in Talen Energy during the second quarter worth about $191,231,000. 0.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Talen Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group decreased their target price on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. Canadian Imperial Bank of Commerce lowered their target price on Talen Energy from $499.00 to $493.00 and set an “outperform” rating on the stock in a report on Wednesday, October 28th. Morgan Stanley lowered their target price on Talen Energy from $514.00 to $504.00 and set an “overweight” rating on the stock in a report on Wednesday, October 21st. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $509.00 price objective on shares of Talen Energy in a research note on Monday, August 10th. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $458.69.

Talen Energy Price Performance

Talen Energy stock opened at $363.13 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 5.95. The company has a 50-day moving average price of $328.55 and a 200 day moving average price of $348.39. Talen Energy Corporation has a 12-month low of $279.77 and a 12-month high of $449.84. The stock has a market cap of $15.80 billion, a P/E ratio of -65.55 and a beta of 1.77.

Talen Energy (NASDAQ:TLN) last posted its earnings results on Tuesday, November 3rd. The utilities provider reported $2.88 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($5.45). Talen Energy had a negative net margin of 6.43% and a positive return on equity of 53.70%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the firm earned $4.25 earnings per share. Sell-side analysts anticipate that Talen Energy Corporation will post 15.26 earnings per share for the current year.

About Talen Energy

Talen Energy Corporation is an independent power producer that owns and operates electricity-generation facilities in the United States. Its portfolio includes nuclear, natural gas, coal, oil and hydroelectric assets, with the Susquehanna nuclear power plant in Pennsylvania among its major facilities.

The company sells electricity and related products, including capacity and ancillary services, primarily through wholesale power markets. Its operations are concentrated in the Mid-Atlantic region served by PJM Interconnection, with additional generation assets in other U.S.