Allspring Global Investments Holdings LLC Purchases New Holdings in Talen Energy Corporation (NASDAQ:TLN)

Allspring Global Investments Holdings LLC bought a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 165,305 shares of the utilities provider's stock, valued at approximately $29,464,000. Allspring Global Investments Holdings LLC owned approximately 0.33% of Talen Energy at the end of the most recent reporting period.

Separately, Shikiar Asset Management Inc. purchased a new stake in Talen Energy in the 2nd quarter worth approximately $278,000. Institutional investors own 0.38% of the company's stock.

Talen Energy Stock Down 2.8 %

TLN traded down $5.09 during trading on Thursday, hitting $177.98. 995,739 shares of the stock traded hands, compared to its average volume of 613,253. The company has a current ratio of 4.51, a quick ratio of 3.86 and a debt-to-equity ratio of 1.02. The firm has a 50-day moving average of $125.17 and a 200 day moving average of $99.53. Talen Energy Corporation has a 12-month low of $52.01 and a 12-month high of $197.61.

Talen Energy (NASDAQ:TLN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The utilities provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of ($1.14) by $1.33. Talen Energy had a net margin of 41.79% and a return on equity of 2.27%. The business had revenue of $489.00 million during the quarter, compared to analysts' expectations of $437.50 million. Research analysts anticipate that Talen Energy Corporation will post 13.79 earnings per share for the current year.

Analyst Ratings Changes

TLN has been the topic of a number of research analyst reports. UBS Group initiated coverage on shares of Talen Energy in a report on Wednesday, September 18th. They issued a "buy" rating and a $197.00 price target on the stock. Oppenheimer increased their target price on shares of Talen Energy from $165.00 to $210.00 and gave the company an "outperform" rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. started coverage on shares of Talen Energy in a report on Thursday, October 17th. They set an "overweight" rating and a $268.00 target price on the stock. BWS Financial increased their target price on shares of Talen Energy from $145.00 to $185.00 and gave the company a "buy" rating in a report on Friday, September 6th. Finally, Royal Bank of Canada started coverage on shares of Talen Energy in a report on Thursday, September 26th. They set an "outperform" rating and a $233.00 target price on the stock. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $205.33.

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.