McLaughlin Asset Management Inc. Makes New Investment in Talen Energy Corporation $TLN

McLaughlin Asset Management Inc. acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,402 shares of the utilities provider’s stock, valued at approximately $900,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. raised its stake in 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 buying an additional 5,389 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Talen Energy by 1,526.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,054 shares of the utilities provider’s stock worth $9,766,000 after acquiring an additional 24,452 shares during the period. Victory Capital Management Inc. lifted its position in Talen Energy by 157.0% during the 3rd quarter. Victory Capital Management Inc. now owns 111,104 shares of the utilities provider’s stock worth $47,261,000 after acquiring an additional 67,881 shares during the period. South Dakota Investment Council purchased a new stake in Talen Energy during the 3rd quarter valued at about $1,489,000. Finally, Vaughan Nelson Investment Management L.P. grew its stake in Talen Energy by 11.8% during 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 purchasing an additional 4,770 shares during the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on TLN shares. The Goldman Sachs Group assumed coverage on Talen Energy in a research note on Thursday. They issued a “buy” rating and a $499.00 price objective for the company. BNP Paribas Exane initiated coverage on shares of Talen Energy in a research report on Wednesday, March 18th. They set 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. Raymond James Financial reaffirmed an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a report on Monday, April 27th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $499.00 price objective on shares of Talen Energy in a research note on Thursday, May 21st. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $452.46.

Talen Energy Stock Up 6.5%

Shares of TLN opened at $436.29 on Friday. The company has a market capitalization of $19.81 billion, a price-to-earnings ratio of -651.17 and a beta of 1.80. Talen Energy Corporation has a 52 week low of $255.50 and a 52 week high of $451.28. The stock’s 50-day moving average price is $363.58 and its 200-day moving average price is $358.75. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32.

Talen Energy 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).