CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Takes Position in Talen Energy Corporation (NASDAQ:TLN)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 44,700 shares of the utilities provider's stock, valued at approximately $7,967,000. Talen Energy comprises about 0.6% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its 29th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.09% of Talen Energy as of its most recent filing with the Securities and Exchange Commission.

Separately, Shikiar Asset Management Inc. acquired a new position in shares of Talen Energy in the second quarter worth $278,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays decreased their price objective on shares of Talen Energy from $207.00 to $202.00 and set an "overweight" rating for the company in a research report on Monday. Guggenheim lifted their price objective on shares of Talen Energy from $219.00 to $246.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Oppenheimer lifted their price objective on shares of Talen Energy from $165.00 to $210.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 24th. BWS Financial lifted their price objective on shares of Talen Energy from $145.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Finally, Jefferies Financial Group started coverage on shares of Talen Energy in a research report on Friday, September 13th. They set a "buy" rating and a $226.00 price objective for the company. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $205.33.

Talen Energy Stock Performance

Shares of Talen Energy stock traded up $1.82 during trading hours on Tuesday, hitting $181.00. The company's stock had a trading volume of 1,110,883 shares, compared to its average volume of 609,461. Talen Energy Corporation has a 1-year low of $51.81 and a 1-year high of $197.61. The business has a fifty day moving average of $121.19 and a 200 day moving average of $97.62. The company has a debt-to-equity ratio of 1.02, a current ratio of 4.51 and a quick ratio of 3.86.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The utilities provider reported $0.19 EPS for the quarter, beating analysts' consensus estimates of ($1.14) by $1.33. Talen Energy had a net margin of 41.79% and a return on equity of 2.27%. The firm had revenue of $489.00 million for the quarter, compared to the consensus estimate of $437.50 million. On average, equities research analysts predict that Talen Energy Corporation will post 13.78 earnings per share for the current fiscal year.

Talen Energy Company Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.