Talen Energy Corporation $TLN Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its position in Talen Energy Corporation (NASDAQ:TLN) by 183.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 434,728 shares of the utilities provider’s stock after acquiring an additional 281,291 shares during the period. Assenagon Asset Management S.A.’s holdings in Talen Energy were worth $167,049,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TLN. Fred Alger Management LLC grew its position in shares of Talen Energy by 8.4% during the 4th quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider’s stock valued at $676,247,000 after acquiring an additional 140,345 shares during the period. Reaves W H & Co. Inc. raised its holdings in Talen Energy by 7.9% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock worth $570,393,000 after purchasing an additional 111,160 shares during the period. Invesco Ltd. boosted its position in Talen Energy by 35.6% during the fourth quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider’s stock worth $540,287,000 after purchasing an additional 378,357 shares in the last quarter. State Street Corp boosted its position in 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 purchasing an additional 627,467 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Talen Energy by 9.1% during the fourth quarter. Geode Capital Management LLC now owns 1,049,196 shares of the utilities provider’s stock worth $409,559,000 after purchasing an additional 87,784 shares in the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Trading Up 2.6%

Shares of Talen Energy stock opened at $338.31 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. Talen Energy Corporation has a twelve month low of $301.45 and a twelve month high of $451.28. The firm has a market capitalization of $16.21 billion, a PE ratio of -81.13 and a beta of 1.90. The firm’s 50-day moving average price is $374.63 and its 200 day moving average price is $358.78.

Talen Energy (NASDAQ:TLN) last posted its quarterly earnings data 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 47.14% and a negative net margin of 5.38%.The firm had revenue of $747.00 million for the quarter, compared to analysts’ expectations of $832.81 million. On average, sell-side analysts predict that Talen Energy Corporation will post 27.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TLN. Raymond James Financial restated an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a research report on Monday, April 27th. Barclays decreased their target price on Talen Energy from $411.00 to $408.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 28th. Wells Fargo & Company lifted their price target on shares of Talen Energy from $482.00 to $501.00 and gave the company an “overweight” rating in a research note on Thursday. Zacks Research raised shares of Talen Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, Jefferies Financial Group reduced their price objective on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $478.18.

Insider Buying and Selling at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction that occurred on 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. The trade was a 49.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.78% of the stock is currently owned by company insiders.

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).