Spirit of America Management Corp NY Has $4.46 Million Stock Holdings in Talen Energy Corporation $TLN

Spirit of America Management Corp NY grew its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 17.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 11,900 shares of the utilities provider’s stock after acquiring an additional 1,800 shares during the quarter. Talen Energy comprises about 0.9% of Spirit of America Management Corp NY’s portfolio, making the stock its 28th biggest holding. Spirit of America Management Corp NY’s holdings in Talen Energy were worth $4,461,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Grove Bank & Trust bought a new position in shares of Talen Energy in the third quarter worth $32,000. Assetmark Inc. lifted its position in Talen Energy by 581.8% during the third quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 64 shares during the period. Neo Ivy Capital Management acquired a new stake in Talen Energy during the third quarter worth about $34,000. Advisory Services Network LLC acquired a new stake in Talen Energy during the third quarter worth about $35,000. Finally, MAI Capital Management increased its holdings in Talen Energy by 115.7% in the 2nd quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock valued at $32,000 after buying an additional 59 shares during the period. 0.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TLN has been the subject of a number of recent analyst reports. Weiss Ratings downgraded shares of Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, February 27th. JPMorgan Chase & Co. decreased their price objective on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Barclays lowered their price objective on shares of Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. Wells Fargo & Company upped their target price on Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Finally, Morgan Stanley set a $474.00 price target on Talen Energy in a research note on Friday, February 20th. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Talen Energy currently has an average rating of “Moderate Buy” and an average price target of $438.17.

Talen Energy Trading Down 3.5%

TLN opened at $313.03 on Tuesday. The company’s 50 day moving average is $347.70 and its 200-day moving average is $375.80. Talen Energy Corporation has a 1-year low of $162.31 and a 1-year high of $451.28. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 6.20. The company has a market cap of $14.21 billion, a P/E ratio of -63.37, a PEG ratio of 0.45 and a beta of 1.94.

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).