Shell Asset Management Co. Buys New Position in Talen Energy Corporation (NASDAQ:TLN)

Shell Asset Management Co. bought a new stake in Talen Energy Corporation (NASDAQ:TLN) during the 4th quarter, Holdings Channel.com reports. The firm bought 710 shares of the utilities provider’s stock, valued at approximately $143,000.

Other institutional investors have also recently bought and sold shares of the company. Diversify Advisory Services LLC bought a new stake in Talen Energy during the 4th quarter worth about $5,794,000. SG Americas Securities LLC bought a new stake in Talen Energy during the fourth quarter worth about $152,000. Janney Montgomery Scott LLC boosted its position in Talen Energy by 1,013.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 12,859 shares of the utilities provider’s stock valued at $2,591,000 after purchasing an additional 11,704 shares during the last quarter. Avior Wealth Management LLC bought a new position in Talen Energy in the fourth quarter valued at approximately $259,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in Talen Energy by 144.3% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 109,200 shares of the utilities provider’s stock valued at $22,001,000 after purchasing an additional 64,500 shares in the last quarter. Institutional investors own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TLN shares. JPMorgan Chase & Co. cut their price objective on Talen Energy from $295.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Morgan Stanley began coverage on shares of Talen Energy in a report on Wednesday, March 12th. They issued an “overweight” rating and a $243.00 target price on the stock. UBS Group cut their target price on shares of Talen Energy from $275.00 to $259.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Bank of America began coverage on Talen Energy in a research report on Monday, February 3rd. They set a “buy” rating and a $253.00 price target on the stock. Finally, Evercore ISI assumed coverage on Talen Energy in a research note on Friday, February 21st. They issued an “outperform” rating on the stock. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, Talen Energy has a consensus rating of “Buy” and a consensus target price of $240.18.

Talen Energy Stock Performance

Shares of Talen Energy stock opened at $240.30 on Tuesday. Talen Energy Corporation has a 1-year low of $98.50 and a 1-year high of $258.03. The company has a market cap of $10.94 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 2.70 and a beta of 1.90. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07. The company has a 50 day moving average of $210.69 and a 200-day moving average of $212.81.

Talen Energy (NASDAQ:TLN) last issued its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.82 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.35). Talen Energy had a net margin of 50.48% and a return on equity of 8.59%. The company had revenue of $390.00 million during the quarter, compared to the consensus estimate of $556.93 million. As a group, equities research analysts forecast that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.

Talen Energy Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.