Talen Energy Corporation $TLN is Clearline Capital LP’s 3rd Largest Position

Clearline Capital LP lifted its position in Talen Energy Corporation (NASDAQ:TLN) by 394.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 133,827 shares of the utilities provider’s stock after buying an additional 106,778 shares during the quarter. Talen Energy accounts for approximately 2.5% of Clearline Capital LP’s portfolio, making the stock its 3rd biggest position. Clearline Capital LP’s holdings in Talen Energy were worth $50,164,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Amundi purchased a new position in Talen Energy during the 1st quarter valued at about $299,000. AQR Capital Management LLC acquired a new position in shares of Talen Energy in the first quarter valued at approximately $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Talen Energy by 11.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock worth $1,454,000 after buying an additional 761 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Talen Energy by 17,400.0% during the 1st quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock worth $175,000 after buying an additional 870 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Talen Energy by 15.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock worth $9,794,000 after acquiring an additional 6,498 shares during the period. Institutional investors and hedge funds own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TLN shares. Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Morgan Stanley reissued an “overweight” rating and set a $499.00 price objective on shares of Talen Energy in a research report on Thursday, May 21st. Raymond James Financial reiterated an “outperform” rating and issued a $457.00 price target on shares of Talen Energy in a research note on Monday, April 27th. JPMorgan Chase & Co. reduced their price objective on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a report on Thursday, March 19th. Finally, BNP Paribas Exane started coverage on shares of Talen Energy in a research note on Wednesday, March 18th. They set an “outperform” rating and a $548.00 target price for the company. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $448.58.

Insider Activity

In other news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 2,606 shares of the company’s stock, valued at approximately $990,280. This represents a 49.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.78% of the company’s stock.

Talen Energy Trading Up 0.8%

Shares of Talen Energy stock opened at $409.81 on Thursday. The firm has a market cap of $18.61 billion, a price-to-earnings ratio of -611.65 and a beta of 1.80. Talen Energy Corporation has a 52-week low of $255.50 and a 52-week high of $451.28. The company’s 50-day simple moving average is $361.45 and its 200-day simple moving average is $358.45. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32.

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).