Legal & General Group Plc Invests $19.34 Million in Talen Energy Corporation $TLN

Legal & General Group Plc purchased a new position in shares of Talen Energy Corporation (NASDAQ:TLN) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 50,333 shares of the utilities provider’s stock, valued at approximately $19,341,000.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Talen Energy in the second quarter worth $1,673,803,000. MFN Partners Management LP purchased a new stake in shares of Talen Energy during the second quarter valued at $1,152,780,000. State Street Corp boosted 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 valued at $569,455,000 after purchasing an additional 627,467 shares during the period. Norges Bank bought a new position in shares of Talen Energy in the fourth quarter worth about $225,930,000. Finally, Two Seas Capital LP purchased a new position in Talen Energy in the 2nd quarter worth about $194,900,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Insiders Place Their Bets

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the sale, the director owned 2,606 shares in the company, valued at $990,280. This represents a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.78% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TLN has been the subject of several research reports. Scotiabank boosted their price objective on shares of Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 15th. Jefferies Financial Group reduced their target price on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. The Goldman Sachs Group reiterated a “buy” rating and issued a $509.00 price target on shares of Talen Energy in a report on Monday, August 10th. Barclays dropped their price objective on Talen Energy from $411.00 to $408.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 28th. Finally, Wall Street Zen downgraded Talen Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Talen Energy presently has an average rating of “Moderate Buy” and a consensus price target of $466.86.

Talen Energy Trading Down 2.8%

NASDAQ TLN opened at $296.11 on Friday. Talen Energy Corporation has a one year low of $294.75 and a one year high of $451.28. The company has a debt-to-equity ratio of 5.82, a quick ratio of 0.55 and a current ratio of 0.78. The company has a market capitalization of $14.19 billion, a price-to-earnings ratio of -71.01 and a beta of 1.90. The company’s 50-day simple moving average is $358.05 and its two-hundred day simple moving average is $356.13.

Talen Energy (NASDAQ:TLN) last announced its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share 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 business had revenue of $747.00 million during the quarter, compared to analysts’ expectations of $832.81 million. Equities analysts forecast 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).