Freestone Grove Partners LP Makes New $2.86 Million Investment in Talen Energy Corporation $TLN

Freestone Grove Partners LP purchased a new stake in Talen Energy Corporation (NASDAQ:TLN) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 7,451 shares of the utilities provider’s stock, valued at approximately $2,863,000.

Several other institutional investors have also recently bought and sold shares of the company. Advisory Services Network LLC acquired a new position in Talen Energy during the 3rd quarter worth approximately $35,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Talen Energy by 1,500.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 90 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Talen Energy in the second quarter valued at approximately $38,000. Silvant Capital Management LLC bought a new stake in shares of Talen Energy in the second quarter worth $42,000. Finally, Bessemer Group Inc. lifted its position in shares of Talen Energy by 404.0% in the first quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 101 shares in the last quarter. Institutional investors own 0.38% of the company’s stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $509.00 target price on shares of Talen Energy in a research report on Monday, August 10th. Morgan Stanley cut their price target on shares of Talen Energy from $508.00 to $503.00 and set an “overweight” rating on the stock in a research report on Friday, August 21st. Jefferies Financial Group reduced their price objective on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a research note on Monday, July 20th. Wall Street Zen cut Talen Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Barclays lowered their target price on Talen Energy from $411.00 to $408.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Talen Energy has a consensus rating of “Moderate Buy” and a consensus target price of $466.86.

Talen Energy Trading Down 2.8%

NASDAQ TLN opened at $296.11 on Friday. The company has a market cap of $14.19 billion, a PE ratio of -71.01 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 12 month low of $294.75 and a 12 month high of $451.28. The stock has a 50 day moving average of $358.05 and a 200-day moving average of $356.13.

Talen Energy (NASDAQ:TLN) last released its 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). The firm had revenue of $747.00 million during the quarter, compared to the consensus estimate of $832.81 million. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. On average, equities research analysts anticipate 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).