Royal Bank of Canada Boosts Holdings in Talen Energy Corporation $TLN

Royal Bank of Canada grew its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 21.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 147,394 shares of the utilities provider’s stock after acquiring an additional 25,850 shares during the quarter. Royal Bank of Canada’s holdings in Talen Energy were worth $47,052,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TLN. Ritholtz Wealth Management boosted its position in shares of Talen Energy by 3.6% in the first quarter. Ritholtz Wealth Management now owns 1,045 shares of the utilities provider’s stock worth $334,000 after acquiring an additional 36 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Talen Energy by 5.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 671 shares of the utilities provider’s stock worth $252,000 after purchasing an additional 36 shares during the last quarter. Compound Planning Inc. raised its stake in Talen Energy by 4.7% during the fourth quarter. Compound Planning Inc. now owns 841 shares of the utilities provider’s stock worth $315,000 after purchasing an additional 38 shares during the period. Northwestern Mutual Investment Management Company LLC raised its stake in Talen Energy by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 10,223 shares of the utilities provider’s stock worth $3,832,000 after purchasing an additional 39 shares during the period. Finally, Values First Advisors Inc. boosted its holdings in shares of Talen Energy by 4.7% in the 1st quarter. Values First Advisors Inc. now owns 979 shares of the utilities provider’s stock valued at $312,000 after purchasing an additional 44 shares during the last quarter. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Talen Energy Stock Performance

NASDAQ:TLN opened at $334.10 on Monday. The firm’s fifty day simple moving average is $378.03 and its 200 day simple moving average is $360.12. 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 $16.00 billion, a price-to-earnings ratio of -498.65 and a beta of 1.90.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TLN shares. Barclays lowered their price objective on shares of Talen Energy from $411.00 to $408.00 and set an “overweight” rating for the company in a research note on Tuesday, July 28th. Jefferies Financial Group cut their target price on 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 began coverage on Talen Energy in a report on Thursday, June 18th. They issued a “buy” rating and a $499.00 target price on the stock. Wells Fargo & Company boosted their price target on Talen Energy from $477.00 to $482.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Finally, Scotiabank upped their price target on Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Talen Energy presently has an average rating of “Moderate Buy” and a consensus target price of $476.45.

Insider Activity at Talen Energy

In related news, Director Gizman I. Abbas sold 2,600 shares of the firm’s 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. This trade represents a 49.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.78% of the company’s stock.

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).