Blue Grotto Capital LLC Makes New Investment in Talen Energy Corporation $TLN

Blue Grotto Capital LLC acquired a new position in Talen Energy Corporation (NASDAQ:TLN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 160,163 shares of the utilities provider’s stock, valued at approximately $60,035,000. Talen Energy accounts for approximately 6.2% of Blue Grotto Capital LLC’s portfolio, making the stock its 4th largest holding. Blue Grotto Capital LLC owned about 0.35% of Talen Energy at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. American Century Companies Inc. increased its holdings in shares of Talen Energy by 1.6% in the third quarter. American Century Companies Inc. now owns 342,914 shares of the utilities provider’s stock worth $145,870,000 after purchasing an additional 5,389 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Talen Energy by 1,526.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,054 shares of the utilities provider’s stock worth $9,766,000 after purchasing an additional 24,452 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Talen Energy by 157.0% in the third quarter. Victory Capital Management Inc. now owns 111,104 shares of the utilities provider’s stock worth $47,261,000 after purchasing an additional 67,881 shares during the last quarter. South Dakota Investment Council bought a new stake in shares of Talen Energy in the third quarter worth about $1,489,000. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of Talen Energy by 11.8% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 45,250 shares of the utilities provider’s stock worth $16,962,000 after purchasing an additional 4,770 shares during the last quarter. Institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Up 7.1%

Talen Energy stock opened at $386.21 on Tuesday. The business has a fifty day moving average of $358.16 and a two-hundred day moving average of $358.23. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32. The firm has a market cap of $17.53 billion, a P/E ratio of -576.42 and a beta of 1.81. Talen Energy Corporation has a twelve month low of $255.50 and a twelve month high of $451.28.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TLN shares. Wells Fargo & Company lifted their target price on Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. reduced their target price on Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a report on Thursday, March 19th. Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Barclays lifted their target price on Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $499.00 target price on shares of Talen Energy in a report on Thursday, May 21st. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Talen Energy presently has an average rating of “Moderate Buy” and a consensus target price of $448.58.

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).