Canada Pension Plan Investment Board Buys New Shares in Talen Energy Corporation $TLN

Canada Pension Plan Investment Board bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 54,660 shares of the utilities provider’s stock, valued at approximately $21,004,000. Canada Pension Plan Investment Board owned approximately 0.11% of Talen Energy as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TLN. Advisory Services Network LLC acquired a new position in Talen Energy in the 3rd quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. lifted 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 worth $36,000 after acquiring an additional 90 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired 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 position in shares of Talen Energy by 404.0% during the first quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 101 shares during the period. 0.38% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Gizman I. Abbas sold 2,600 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the sale, the director owned 2,606 shares in the company, valued at approximately $990,280. The trade was a 49.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.78% of the company’s stock.

Wall Street Analyst Weigh In

TLN has been the subject of a number of recent research reports. Morgan Stanley cut their target price on Talen Energy from $508.00 to $503.00 and set an “overweight” rating for the company in a research note on Friday, August 21st. Weiss Ratings downgraded shares of Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 18th. Wall Street Zen lowered shares of Talen Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. New Street Research set a $405.00 price objective on shares of Talen Energy in a research note on Monday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $509.00 price objective on shares of Talen Energy in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $466.86.

Talen Energy Trading Down 2.8%

Shares of TLN opened at $296.11 on Friday. Talen Energy Corporation has a 1 year low of $294.75 and a 1 year high of $451.28. The company has a current ratio of 0.78, a quick ratio of 0.55 and a debt-to-equity ratio of 5.82. The stock has a 50 day simple moving average of $358.05 and a 200-day simple moving average of $356.13. The stock has a market cap of $14.19 billion, a PE ratio of -71.01 and a beta of 1.90.

Talen Energy (NASDAQ:TLN) last posted its earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) EPS for the quarter, missing the consensus estimate of $3.21 by ($5.21). Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%.The company had revenue of $747.00 million for the quarter, compared to the consensus estimate of $832.81 million. On average, sell-side analysts predict that Talen Energy Corporation will post 21.99 EPS for the current fiscal year.

Talen Energy Company Profile

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).