Covey Capital Advisors LLC Reduces Holdings in Talen Energy Corporation $TLN

Covey Capital Advisors LLC reduced its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,517 shares of the utilities provider’s stock after selling 55 shares during the period. Covey Capital Advisors LLC’s holdings in Talen Energy were worth $732,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TLN. Third Point LLC bought a new stake in shares of Talen Energy during the 1st quarter valued at $116,807,000. Fred Alger Management LLC lifted its position in Talen Energy by 56.3% during the first quarter. Fred Alger Management LLC now owns 1,492,145 shares of the utilities provider’s stock valued at $297,937,000 after purchasing an additional 537,398 shares in the last quarter. PointState Capital LP bought a new stake in Talen Energy during the first quarter valued at about $75,148,000. Assenagon Asset Management S.A. purchased a new stake in Talen Energy in the second quarter worth about $91,239,000. Finally, Ameriprise Financial Inc. increased its position in Talen Energy by 6,621.1% in the first quarter. Ameriprise Financial Inc. now owns 303,661 shares of the utilities provider’s stock worth $60,638,000 after buying an additional 299,143 shares in the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Price Performance

TLN stock opened at $391.82 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.34 and a current ratio of 1.84. The company’s fifty day moving average price is $404.60 and its 200-day moving average price is $323.71. Talen Energy Corporation has a one year low of $158.08 and a one year high of $451.28. The company has a market capitalization of $17.90 billion, a PE ratio of 111.00, a price-to-earnings-growth ratio of 2.08 and a beta of 1.88.

Talen Energy (NASDAQ:TLN) last posted its earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of ($1.13) by $2.63. The company had revenue of $630.00 million during the quarter, compared to analysts’ expectations of $481.48 million. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. On average, equities analysts anticipate that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TLN shares. JPMorgan Chase & Co. lifted their price objective on Talen Energy from $432.00 to $442.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Talen Energy in a report on Wednesday, October 8th. Zacks Research lowered shares of Talen Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 18th. Barclays decreased their price objective on shares of Talen Energy from $440.00 to $439.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 21st. Finally, Evercore ISI upped their target price on shares of Talen Energy from $410.00 to $450.00 and gave the stock an “outperform” rating in a report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $395.64.

Talen Energy Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.