Arrow Capital Management LLC Invests $10.51 Million in Talen Energy Corporation $TLN

Arrow Capital Management LLC bought a new position in Talen Energy Corporation (NASDAQ:TLN) during the 4th quarter, Holdings Channel reports. The institutional investor bought 28,044 shares of the utilities provider’s stock, valued at approximately $10,512,000. Talen Energy makes up 6.1% of Arrow Capital Management LLC’s holdings, making the stock its 6th largest position.

Several other large investors have also made changes to their positions in the company. Daiwa Securities Group Inc. increased its stake in Talen Energy by 5.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 671 shares of the utilities provider’s stock worth $252,000 after acquiring an additional 36 shares during the last quarter. Compound Planning Inc. increased its position in Talen Energy by 4.7% during the 4th quarter. Compound Planning Inc. now owns 841 shares of the utilities provider’s stock worth $315,000 after purchasing an additional 38 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its holdings in Talen Energy by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 10,223 shares of the utilities provider’s stock valued at $3,832,000 after buying an additional 39 shares during the period. Berbice Capital Management LLC raised its holdings in Talen Energy by 19.1% in the fourth quarter. Berbice Capital Management LLC now owns 280 shares of the utilities provider’s stock valued at $105,000 after buying an additional 45 shares during the period. Finally, Red Door Wealth Management LLC lifted its position in Talen Energy by 2.2% during the fourth quarter. Red Door Wealth Management LLC now owns 2,191 shares of the utilities provider’s stock valued at $821,000 after buying an additional 47 shares in the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Trading Up 6.5%

Shares of TLN opened at $436.29 on Friday. Talen Energy Corporation has a one year low of $255.50 and a one year high of $451.28. The stock has a 50-day moving average price of $363.58 and a 200 day moving average price of $358.75. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. The company has a market capitalization of $19.81 billion, a P/E ratio of -651.17 and a beta of 1.80.

Analyst Upgrades and Downgrades

TLN has been the subject of several research reports. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. cut their target price on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Barclays lifted their target price on shares of Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. BNP Paribas Exane assumed coverage on Talen Energy in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price objective on the stock. Finally, The Goldman Sachs Group began coverage on Talen Energy in a research note on Thursday. They set a “buy” rating and a $499.00 price objective on the stock. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $452.46.

Insider Activity

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $380.00, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.78% of the stock is currently owned by insiders.

Talen Energy Company 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).