Purpose Unlimited Inc. Invests $7.60 Million in Talen Energy Corporation $TLN

Purpose Unlimited Inc. bought a new stake in Talen Energy Corporation (NASDAQ:TLN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 20,269 shares of the utilities provider’s stock, valued at approximately $7,598,000.

Other hedge funds have also made changes to their positions in the company. American Century Companies Inc. raised its stake in shares of Talen Energy by 1.6% in the third quarter. American Century Companies Inc. now owns 342,914 shares of the utilities provider’s stock valued at $145,870,000 after purchasing an additional 5,389 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Talen Energy by 1,526.3% during the fourth 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 in the last quarter. Victory Capital Management Inc. increased its holdings in Talen Energy by 157.0% in the 3rd quarter. Victory Capital Management Inc. now owns 111,104 shares of the utilities provider’s stock valued at $47,261,000 after buying an additional 67,881 shares during the period. South Dakota Investment Council bought a new stake in Talen Energy in the 3rd quarter valued at $1,489,000. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in Talen Energy by 11.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 45,250 shares of the utilities provider’s stock valued at $16,962,000 after buying an additional 4,770 shares during the period. Institutional investors own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TLN. Wells Fargo & Company raised their price objective on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Raymond James Financial reissued an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a research note on Monday, April 27th. BNP Paribas Exane initiated coverage on shares of Talen Energy in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price target for the company. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $499.00 price objective on shares of Talen Energy in a report on Thursday, May 21st. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Talen Energy presently has an average rating of “Moderate Buy” and a consensus price target of $452.46.

Insider Buying and Selling

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the transaction, the director directly owned 2,606 shares in the company, valued at $990,280. The trade was a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.78% of the stock is currently owned by company insiders.

Talen Energy Stock Performance

Talen Energy stock opened at $436.29 on Friday. The firm has a market capitalization of $19.81 billion, a P/E ratio of -651.17 and a beta of 1.80. The stock has a fifty day moving average price of $365.73 and a two-hundred day moving average price of $359.29. Talen Energy Corporation has a 52-week low of $255.50 and a 52-week high of $451.28. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05.

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).