Artemis Wealth Advisors LLC Takes Position in Talen Energy Corporation (NASDAQ:TLN)

Artemis Wealth Advisors LLC acquired a new stake in Talen Energy Corporation (NASDAQ:TLN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,000 shares of the utilities provider’s stock, valued at approximately $806,000. Talen Energy makes up approximately 0.1% of Artemis Wealth Advisors LLC’s investment portfolio, making the stock its 24th largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in shares of Talen Energy in the 3rd quarter valued at about $36,000. Allworth Financial LP lifted its position in Talen Energy by 170.6% during the 4th quarter. Allworth Financial LP now owns 184 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 116 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in Talen Energy during the 4th quarter worth approximately $39,000. Empowered Funds LLC acquired a new position in Talen Energy during the 4th quarter worth approximately $42,000. Finally, First Horizon Advisors Inc. lifted its position in Talen Energy by 458.0% during the 4th quarter. First Horizon Advisors Inc. now owns 452 shares of the utilities provider’s stock worth $91,000 after acquiring an additional 371 shares in the last quarter. 0.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $204.35, for a total value of $999,988,155.45. Following the completion of the sale, the insider now directly owns 6,475,107 shares in the company, valued at approximately $1,323,188,115.45. The trade was a 43.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

Talen Energy Stock Performance

Shares of TLN opened at $215.85 on Tuesday. Talen Energy Corporation has a 52-week low of $69.06 and a 52-week high of $258.03. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 2.70 and a beta of 1.70. The business’s 50 day moving average is $222.33 and its two-hundred day moving average is $177.52.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TLN. Bank of America began coverage on Talen Energy in a research report on Monday, February 3rd. They set a “buy” rating and a $253.00 price target on the stock. Oppenheimer boosted their price target on Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Daiwa Capital Markets began coverage on Talen Energy in a research report on Wednesday, December 4th. They set a “buy” rating and a $248.00 price target on the stock. Evercore ISI assumed coverage on Talen Energy in a research report on Friday. They set an “outperform” rating on the stock. Finally, Barclays upped their target price on Talen Energy from $245.00 to $293.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $247.10.

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.