Strs Ohio Increases Holdings in Talen Energy Corporation $TLN

Strs Ohio increased its position in Talen Energy Corporation (NASDAQ:TLN) by 39.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,085 shares of the utilities provider’s stock after buying an additional 3,998 shares during the quarter. Strs Ohio’s holdings in Talen Energy were worth $4,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its stake in shares of Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after acquiring an additional 627,467 shares in the last quarter. Norges Bank bought a new stake in shares of Talen Energy in the 4th quarter worth approximately $225,930,000. Invesco Ltd. boosted its stake in shares of Talen Energy by 77.5% in the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock valued at $452,189,000 after purchasing an additional 464,014 shares in the last quarter. Sachem Head Capital Management LP boosted its stake in shares of Talen Energy by 72.4% in the 4th quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider’s stock valued at $374,840,000 after purchasing an additional 420,000 shares in the last quarter. Finally, Deltroit Asset Management UK LLP bought a new position in shares of Talen Energy during the 4th quarter valued at $103,081,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Analysts Set New Price Targets

TLN has been the topic of a number of analyst reports. Jefferies Financial Group cut shares of Talen Energy from a “buy” rating to a “hold” rating and set a $453.00 target price on the stock. in a research report on Tuesday, June 23rd. Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Morgan Stanley reiterated an “overweight” rating and issued a $508.00 price objective on shares of Talen Energy in a report on Wednesday, June 24th. Wells Fargo & Company boosted their target price on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lowered their target price on Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $458.77.

Insider Buying and Selling at Talen Energy

In related news, Director Gizman I. Abbas sold 2,600 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the sale, the director directly owned 2,606 shares of the company’s stock, valued at $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The transaction 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.

Talen Energy Trading Down 1.8%

Talen Energy stock traded down $6.83 during trading hours on Tuesday, reaching $370.96. The stock had a trading volume of 52,067 shares, compared to its average volume of 834,101. The company has a fifty day simple moving average of $377.34 and a 200-day simple moving average of $361.63. Talen Energy Corporation has a 52 week low of $255.50 and a 52 week high of $451.28. The stock has a market cap of $17.77 billion, a PE ratio of -550.21 and a beta of 1.82. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05.

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).