Bornite Capital Management LP Has $77.22 Million Position in Talen Energy Corporation $TLN

Bornite Capital Management LP lifted its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 32.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 206,000 shares of the utilities provider’s stock after acquiring an additional 50,000 shares during the period. Talen Energy makes up about 7.5% of Bornite Capital Management LP’s investment portfolio, making the stock its largest holding. Bornite Capital Management LP owned about 0.45% of Talen Energy worth $77,217,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Talen Energy by 2.7% during the third quarter. Vanguard Group Inc. now owns 4,523,159 shares of the utilities provider’s stock worth $1,924,061,000 after acquiring an additional 117,266 shares in the last quarter. Reaves W H & Co. Inc. increased its position in shares of Talen Energy by 7.9% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock worth $570,393,000 after acquiring an additional 111,160 shares in the last quarter. State Street Corp increased its position in shares of Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after acquiring an additional 627,467 shares in the last quarter. Lone Pine Capital LLC increased its position in shares of Talen Energy by 9.5% during the third quarter. Lone Pine Capital LLC now owns 1,192,516 shares of the utilities provider’s stock worth $507,272,000 after acquiring an additional 103,136 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Talen Energy by 77.5% during the third quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock worth $452,189,000 after acquiring an additional 464,014 shares in the last quarter. Institutional investors own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $499.00 target price on shares of Talen Energy in a research report on Thursday, May 21st. Wells Fargo & Company raised their target price on shares of Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, BNP Paribas Exane started coverage on shares of Talen Energy in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 target price for the company. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $448.58.

Talen Energy Stock Up 4.6%

Talen Energy stock opened at $360.54 on Friday. The company has a market cap of $16.37 billion, a P/E ratio of -538.11 and a beta of 1.80. Talen Energy Corporation has a 1-year low of $255.50 and a 1-year high of $451.28. The company has a fifty day simple moving average of $356.99 and a 200 day simple moving average of $358.33. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32.

About Talen Energy

Talen Energy Inc is an independent power producer that develops and operates a diversified portfolio of thermal and renewable generation facilities across the United States. The company supplies wholesale electricity and related services to utilities, large industrial customers, and power marketers, participating actively in regional markets such as PJM Interconnection and the Electric Reliability Council of Texas (ERCOT). Talen’s asset base comprises a mix of natural gas-fired, coal-fired and nuclear generation, supplemented by battery storage and other flexible resources designed to support the evolving needs of the grid.

Established in December 2015 through the combination of the competitive generation businesses previously held by two major utility groups, Talen Energy was structured as a standalone, publicly traded entity on the NASDAQ stock exchange (TLN).