William Blair Investment Management LLC Acquires New Holdings in Talen Energy Corporation $TLN

William Blair Investment Management LLC bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 497,660 shares of the utilities provider’s stock, valued at approximately $191,231,000.

A number of other institutional investors have also recently added to or reduced their stakes in TLN. EP Wealth Advisors LLC acquired a new position in Talen Energy in the 2nd quarter valued at approximately $507,000. Allworth Financial LP bought a new position in shares of Talen Energy during the second quarter valued at $105,000. Kayne Anderson Capital Advisors LP acquired a new position in shares of Talen Energy during the second quarter worth $2,662,000. NFJ Investment Group LLC acquired a new position in shares of Talen Energy during the second quarter worth $470,000. Finally, Silvant Capital Management LLC bought a new stake in shares of Talen Energy in the second quarter worth $42,000. 0.38% of the stock is owned by institutional investors.

Insider Buying and Selling at Talen Energy

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 completion of the sale, the director owned 2,606 shares in the company, valued at $990,280. This trade represents a 49.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.78% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TLN. Raymond James Financial restated an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a report on Monday, April 27th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $509.00 target price on shares of Talen Energy in a report on Monday, August 10th. Zacks Research upgraded Talen Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Barclays decreased their price target on Talen Energy from $411.00 to $408.00 and set an “overweight” rating for the company in a research note on Tuesday, July 28th. Finally, BNP Paribas Exane restated an “outperform” rating and set a $560.00 price objective on shares of Talen Energy in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Talen Energy presently has an average rating of “Moderate Buy” and a consensus target price of $477.17.

Talen Energy Stock Performance

TLN opened at $314.46 on Friday. The company has a market cap of $15.07 billion, a price-to-earnings ratio of -75.41 and a beta of 1.90. The company has a current ratio of 0.78, a quick ratio of 0.55 and a debt-to-equity ratio of 5.82. Talen Energy Corporation has a 1-year low of $301.45 and a 1-year high of $451.28. The company’s fifty day moving average price is $369.15 and its two-hundred day moving average price is $357.17.

Talen Energy (NASDAQ:TLN) last released its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) EPS for the quarter, missing analysts’ consensus estimates of $3.21 by ($5.21). Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. The company had revenue of $747.00 million during the quarter, compared to analysts’ expectations of $832.81 million. On average, analysts expect that Talen Energy Corporation will post 25.07 EPS for the current fiscal year.

About Talen Energy

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).