Oppenheimer Asset Management Inc. has increased its holdings in Talen Energy Corporation by 10.8% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission, Oppenheimer now owns 12,414 shares of the energy company, worth approximately $3,610,000 following the acquisition of an additional 1,209 shares.
Several other institutional investors have also adjusted their positions in Talen Energy, a company listed on NASDAQ under the ticker symbol TLN. Notably, Signaturefd LLC increased its stake by an impressive 310.0% during the first quarter, now owning 123 shares valued at $25,000 after purchasing an additional 93 shares. Similarly, Brooklyn Investment Group and Golden State Wealth Management LLC each acquired new stakes in the company, both valued around $25,000 and $35,000, respectively. LRI Investments LLC also raised its holdings by 179.0%, bringing its total to 173 shares worth $35,000.
Despite these positive shifts in investment, Talen Energy’s stock has experienced a decline, recently down by 3.2%. As of the latest trading session, shares opened at $394.00. The company has seen considerable fluctuations over the past year, with a low of $158.08 and a high of $451.28. Its market capitalization stands at $18.00 billion, with key financial ratios indicating a PE ratio of 111.62 and a debt-to-equity ratio of 2.39.
Analyst Insights on Talen Energy
Wall Street analysts have provided mixed reviews on Talen Energy. Melius Research initiated coverage with a buy rating and a price target of $427.00 on August 20. Conversely, Barclays revised its price target down slightly from $440.00 to $439.00 while maintaining an overweight rating. Melius Research later increased its price objective to $576.00, reaffirming its bullish stance on the stock.
Scotiabank has also entered the conversation, assigning a sector perform rating with a target price of $418.00. Meanwhile, Zacks Research downgraded its recommendation from a strong-buy to a hold rating. Overall, fourteen analysts currently rate Talen Energy as a buy, while three have a hold rating. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy with an average target price of $395.64.
About Talen Energy Corporation
Talen Energy Corporation is a major player in the U.S. energy sector, owning or controlling approximately 16,000 megawatts of capacity across wholesale power markets, primarily in the Northeast, Mid-Atlantic, and Southwest regions. The company engages in the generation and sale of electricity from various fuel sources, including nuclear, natural gas, and coal.
Investors interested in Talen Energy can find further details on recent trades and institutional holdings on platforms such as HoldingsChannel.com. For ongoing updates, MarketBeat.com offers a daily summary of news and analyst ratings related to the company and its peers.
