Engle Capital Management L.P. Has $28.86 Million Position in Talen Energy Corporation $TLN

Engle Capital Management L.P. trimmed its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 8.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 77,000 shares of the utilities provider’s stock after selling 7,338 shares during the quarter. Talen Energy comprises about 11.1% of Engle Capital Management L.P.’s portfolio, making the stock its biggest holding. Engle Capital Management L.P. owned approximately 0.17% of Talen Energy worth $28,863,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Flagship Harbor Advisors LLC acquired a new position in Talen Energy during the fourth quarter valued at approximately $27,000. Assetmark Inc. raised its position in Talen Energy by 581.8% during the third quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Talen Energy during the third quarter valued at approximately $34,000. Advisory Services Network LLC acquired a new position in Talen Energy during the third quarter valued at approximately $35,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Talen Energy by 1,500.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 90 shares in the last quarter. 0.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TLN has been the subject of several recent analyst reports. BNP Paribas Exane initiated coverage on Talen Energy in a research report on Wednesday, March 18th. They set an “outperform” rating and a $548.00 price objective for the company. Wells Fargo & Company upped their price objective on Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Barclays upped their price objective on Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Raymond James Financial restated an “outperform” rating and set a $457.00 price objective on shares of Talen Energy in a research report on Monday, April 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $499.00 price target on shares of Talen Energy in a report on Thursday, May 21st. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Talen Energy has a consensus rating of “Moderate Buy” and a consensus target price of $448.58.

Talen Energy Stock Up 0.8%

Shares of NASDAQ:TLN opened at $409.81 on Thursday. The company has a fifty day moving average of $361.45 and a 200-day moving average of $358.45. The company has a market capitalization of $18.61 billion, a PE ratio of -611.65 and a beta of 1.80. 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 $255.50 and a 52-week high of $451.28.

Insider Activity

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 completion of the transaction, the director directly owned 2,606 shares in the company, valued at approximately $990,280. This represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.78% of the company’s stock.

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).