Talen Energy Corporation $TLN Shares Sold by Engle Capital Management L.P.

Engle Capital Management L.P. reduced its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 18.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,502 shares of the utilities provider’s stock after selling 14,498 shares during the period. Talen Energy comprises about 6.8% of Engle Capital Management L.P.’s investment portfolio, making the stock its 6th biggest position. Engle Capital Management L.P. owned 0.14% of Talen Energy worth $19,953,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TLN. State Street Corp increased its holdings 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 buying an additional 627,467 shares in the last quarter. Norges Bank acquired a new stake in Talen Energy during the 4th quarter valued at $225,930,000. Invesco Ltd. raised its position in Talen Energy by 77.5% in the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock valued at $452,189,000 after purchasing an additional 464,014 shares during the last quarter. Sachem Head Capital Management LP boosted its stake in Talen Energy by 72.4% in the fourth quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider’s stock worth $374,840,000 after purchasing an additional 420,000 shares in the last quarter. Finally, Deltroit Asset Management UK LLP acquired a new position in Talen Energy in the fourth quarter worth $103,081,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Price Performance

Shares of TLN stock opened at $347.07 on Tuesday. The firm’s 50 day moving average price is $379.69 and its two-hundred day moving average price is $361.26. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. Talen Energy Corporation has a 52-week low of $301.45 and a 52-week high of $451.28. The stock has a market cap of $16.62 billion, a PE ratio of -518.01 and a beta of 1.82.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Talen Energy in a report on Thursday, June 18th. They issued a “buy” rating and a $499.00 price target for the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a research note on Monday, April 27th. Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Jefferies Financial Group dropped their price objective on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $508.00 price objective on shares of Talen Energy in a research report on Wednesday, June 24th. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $476.73.

Insider Activity

In related news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction on Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the sale, the director directly owned 2,606 shares of the company’s stock, valued at $990,280. The trade was a 49.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.78% of the stock is owned by corporate insiders.

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).