CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Takes $7.97 Million Position in Talen Energy Corporation (NASDAQ:TLN)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in Talen Energy Corporation (NASDAQ:TLN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 44,700 shares of the utilities provider’s stock, valued at approximately $7,967,000. Talen Energy accounts for about 0.6% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s investment portfolio, making the stock its 29th biggest holding.

Separately, Allspring Global Investments Holdings LLC purchased a new stake in Talen Energy during the 3rd quarter worth approximately $29,464,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Stock Up 1.0 %

Talen Energy stock traded up $1.81 during midday trading on Tuesday, reaching $180.99. The stock had a trading volume of 625,836 shares, compared to its average volume of 607,187. The stock’s 50-day simple moving average is $121.19 and its 200 day simple moving average is $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 Corporation has a twelve month low of $51.81 and a twelve month high of $197.61.

Talen Energy (NASDAQ:TLN) last announced its quarterly earnings results on Tuesday, August 13th. The utilities provider reported $0.19 earnings per share 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 analysts’ expectations of $437.50 million. Analysts forecast that Talen Energy Corporation will post 13.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TLN has been the subject of several recent analyst reports. Barclays cut 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. UBS Group initiated coverage on Talen Energy in a report on Wednesday, September 18th. They issued a “buy” rating and a $197.00 price objective on the stock. BWS Financial upped their target price on Talen Energy from $145.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Jefferies Financial Group assumed coverage on shares of Talen Energy in a report on Friday, September 13th. They issued a “buy” rating and a $226.00 target price on the stock. Finally, Royal Bank of Canada assumed coverage on shares of Talen Energy in a report on Thursday, September 26th. They issued an “outperform” rating and a $233.00 target price for the company. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $205.33.

Talen Energy 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.