Spirit of America Management Corp NY Makes New $214,000 Investment in Talen Energy Corporation (NASDAQ:TLN)

Spirit of America Management Corp NY purchased a new position in shares of Talen Energy Corporation (NASDAQ:TLN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,200 shares of the utilities provider’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Guidance Capital Inc. purchased a new stake in shares of Talen Energy during the 3rd quarter worth approximately $348,000. Mcdaniel Terry & Co. acquired a new position in Talen Energy in the 3rd quarter valued at $371,000. Shikiar Asset Management Inc. acquired a new position in Talen Energy in the 2nd quarter valued at $278,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in Talen Energy in the 3rd quarter valued at $7,967,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Talen Energy during the 3rd quarter worth $29,464,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Stock Performance

NASDAQ:TLN opened at $177.98 on Friday. The business’s 50-day simple moving average is $125.17 and its 200 day simple moving average is $99.53. Talen Energy Corporation has a one year low of $52.01 and a one year high of $197.61. The company has a current ratio of 4.51, a quick ratio of 3.86 and a debt-to-equity ratio of 1.02.

Talen Energy (NASDAQ:TLN) last announced its quarterly earnings data on Tuesday, August 13th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $1.33. Talen Energy had a return on equity of 2.27% and a net margin of 41.79%. The firm had revenue of $489.00 million for the quarter, compared to analysts’ expectations of $437.50 million. Research analysts forecast 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 reports. Royal Bank of Canada initiated coverage on shares of Talen Energy in a research note on Thursday, September 26th. They issued an “outperform” rating and a $233.00 price objective on the stock. BWS Financial upped 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. Jefferies Financial Group started 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. UBS Group started coverage on shares of Talen Energy in a report on Wednesday, September 18th. They issued a “buy” rating and a $197.00 target price on the stock. Finally, Guggenheim upped their target price on shares of Talen Energy from $219.00 to $246.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Nine 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 price target 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.