The Manufacturers Life Insurance Company Acquires New Stake in Talen Energy Corporation $TLN

The Manufacturers Life Insurance Company bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 21,116 shares of the utilities provider’s stock, valued at approximately $8,114,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Talen Energy in the 2nd quarter valued at about $1,673,803,000. MFN Partners Management LP purchased a new position in shares of Talen Energy in the second quarter valued at approximately $1,152,780,000. State Street Corp boosted its stake in shares of Talen Energy by 88.2% in 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 purchased a new position in shares of Talen Energy in the fourth quarter valued at approximately $225,930,000. Finally, Two Seas Capital LP acquired a new position in shares of Talen Energy in the second quarter valued at approximately $194,900,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

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 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 directly owned 2,606 shares of the company’s stock, valued at approximately $990,280. The trade was a 49.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.78% of the company’s stock.

Talen Energy Price Performance

Shares of NASDAQ:TLN opened at $296.11 on Monday. The firm’s 50 day moving average price is $358.05 and its 200 day moving average price is $356.15. The stock has a market cap of $14.19 billion, a price-to-earnings ratio of -71.01 and a beta of 1.90. Talen Energy Corporation has a fifty-two week low of $294.75 and a fifty-two week high of $451.28. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82.

Talen Energy (NASDAQ:TLN) last posted its quarterly earnings results 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 43.32% and a negative net margin of 5.38%.The firm had revenue of $747.00 million for the quarter, compared to analyst estimates of $832.81 million. As a group, equities research analysts predict that Talen Energy Corporation will post 21.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TLN has been the topic of a number of research reports. Wall Street Zen lowered shares of Talen Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Zacks Research downgraded shares of Talen Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley cut their price objective on Talen Energy from $508.00 to $503.00 and set an “overweight” rating on the stock in a research report on Friday, August 21st. The Goldman Sachs Group reiterated a “buy” rating and issued a $509.00 price objective on shares of Talen Energy in a research note on Monday, August 10th. Finally, Scotiabank lifted their target price on Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a report on Wednesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $466.86.

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).