Empowered Funds LLC Takes Position in Talen Energy Corporation $TLN

Empowered Funds LLC acquired a new stake in shares of Talen Energy Corporation (NASDAQ:TLN) in the second quarter, Holdings Channel reports. The firm acquired 15,780 shares of the utilities provider’s stock, valued at approximately $6,064,000.

Several other institutional investors have also recently made changes to their positions in TLN. BlackRock Inc. bought a new position in Talen Energy in the second quarter worth approximately $1,673,803,000. MFN Partners Management LP bought a new position in Talen Energy in the second quarter worth about $1,152,780,000. State Street Corp raised its holdings in Talen Energy by 88.2% in the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after purchasing an additional 627,467 shares in the last quarter. Norges Bank purchased a new stake in shares of Talen Energy during the fourth quarter valued at about $225,930,000. Finally, Two Seas Capital LP purchased a new stake in shares of Talen Energy during the second quarter valued at about $194,900,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Insider Activity

In other Talen Energy 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 value of $988,000.00. Following the completion of the transaction, the director owned 2,606 shares of the company’s stock, valued at approximately $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.78% of the company’s stock.

Talen Energy Stock Performance

TLN opened at $296.11 on Monday. Talen Energy Corporation has a 52-week low of $294.75 and a 52-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. The company has a market cap of $14.19 billion, a P/E ratio of -71.01 and a beta of 1.90. The firm’s 50-day moving average price is $358.05 and its 200-day moving average price is $356.15.

Talen Energy (NASDAQ:TLN) last released its 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). The company had revenue of $747.00 million during the quarter, compared to analyst estimates of $832.81 million. Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%. As a group, equities analysts anticipate that Talen Energy Corporation will post 21.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TLN. Wall Street Zen downgraded shares of Talen Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. New Street Research set a $405.00 target price on shares of Talen Energy in a research report on Monday, August 24th. Wells Fargo & Company raised their target price on shares of Talen Energy from $482.00 to $501.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Barclays reduced their price target 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. Finally, Scotiabank increased their price objective 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $466.86.

Talen Energy 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).