World Equity Group Inc. Invests $237,000 in Talen Energy Corporation (NASDAQ:TLN)

World Equity Group Inc. bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,330 shares of the utilities provider’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Talen Energy in the third quarter worth approximately $29,464,000. Roubaix Capital LLC purchased a new stake in Talen Energy during the third quarter valued at about $11,234,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in shares of Talen Energy in the 3rd quarter worth about $7,967,000. Riggs Asset Managment Co. Inc. acquired a new stake in Talen Energy during the 3rd quarter worth approximately $1,001,000. Finally, Shikiar Asset Management Inc. acquired a new position in Talen Energy during the second quarter valued at approximately $278,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. initiated coverage on Talen Energy in a research report on Thursday, October 17th. They issued an “overweight” rating and a $268.00 target price for the company. Guggenheim boosted their price objective on Talen Energy from $219.00 to $246.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada started coverage on shares of Talen Energy in a research report on Thursday, September 26th. They issued an “outperform” rating and a $233.00 price target on the stock. Barclays lowered their price objective on Talen Energy from $207.00 to $202.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Finally, UBS Group initiated coverage on Talen Energy in a research report on Wednesday, September 18th. They issued a “buy” rating and a $197.00 target price on the stock. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Talen Energy currently has a consensus rating of “Buy” and an average target price of $205.33.

Talen Energy Stock Performance

Shares of TLN opened at $170.00 on Tuesday. The company has a 50-day simple moving average of $133.22 and a 200-day simple moving average of $104.72. The company has a quick ratio of 3.86, a current ratio of 4.51 and a debt-to-equity ratio of 1.02. Talen Energy Corporation has a 52 week low of $52.01 and a 52 week high of $197.61.

Talen Energy (NASDAQ:TLN) last issued its earnings results on Tuesday, August 13th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.14) by $1.33. The business had revenue of $489.00 million during the quarter, compared to analysts’ expectations of $437.50 million. Talen Energy had a return on equity of 2.27% and a net margin of 41.79%. On average, equities research analysts forecast that Talen Energy Corporation will post 14.65 EPS for the current fiscal year.

About Talen Energy

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.