Atika Capital Management LLC Lowers Stock Holdings in Talen Energy Corporation $TLN

Atika Capital Management LLC cut its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 56.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 18,490 shares of the utilities provider’s stock after selling 23,610 shares during the period. Atika Capital Management LLC’s holdings in Talen Energy were worth $5,903,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Flagship Harbor Advisors LLC acquired a new position in shares of Talen Energy during the fourth quarter worth $27,000. Advisory Services Network LLC purchased a new stake in Talen Energy during the 3rd quarter worth about $35,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Talen Energy by 1,500.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after buying an additional 90 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Talen Energy during the 4th quarter worth about $39,000. Finally, Bessemer Group Inc. increased its holdings in shares of Talen Energy by 404.0% in the 1st quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 101 shares during the last quarter. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the transaction, the director directly owned 2,606 shares of the company’s stock, valued at $990,280. This represents a 49.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.78% of the company’s stock.

Talen Energy Stock Performance

NASDAQ:TLN opened at $379.27 on Friday. Talen Energy Corporation has a 1-year low of $301.45 and a 1-year high of $451.28. The firm’s fifty day moving average price is $378.72 and its 200 day moving average price is $361.83. The firm has a market cap of $18.17 billion, a price-to-earnings ratio of -566.07 and a beta of 1.82. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05.

Analyst Ratings Changes

A number of analysts have weighed in on TLN shares. Scotiabank raised their price objective on shares of Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 15th. Wells Fargo & Company boosted their price objective on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. The Goldman Sachs Group assumed coverage on shares of Talen Energy in a research report on Thursday, June 18th. They issued a “buy” rating and a $499.00 target price on the stock. Finally, Morgan Stanley reiterated an “overweight” rating and set a $508.00 price target on shares of Talen Energy in a research note on Wednesday, June 24th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Talen Energy presently has an average rating of “Moderate Buy” and an average price target of $472.50.

Talen Energy Profile

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).