Owl Creek Asset Management L.P. Sells 31,592 Shares of Talen Energy Corporation $TLN

Owl Creek Asset Management L.P. decreased its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 33.0% during the 1st quarter, Holdings Channel reports. The firm owned 64,043 shares of the utilities provider’s stock after selling 31,592 shares during the quarter. Talen Energy comprises 1.5% of Owl Creek Asset Management L.P.’s holdings, making the stock its 8th largest position. Owl Creek Asset Management L.P.’s holdings in Talen Energy were worth $20,444,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. State Street Corp lifted its stake in Talen Energy by 88.2% in the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after buying an additional 627,467 shares during the period. Norges Bank acquired a new stake in shares of Talen Energy during the 4th quarter worth approximately $225,930,000. Invesco Ltd. increased its stake in shares of Talen Energy by 77.5% in the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock valued at $452,189,000 after acquiring an additional 464,014 shares in the last quarter. Sachem Head Capital Management LP increased its stake in shares of Talen Energy by 72.4% in the 4th quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider’s stock valued at $374,840,000 after acquiring an additional 420,000 shares in the last quarter. Finally, Deltroit Asset Management UK LLP acquired a new position in shares of Talen Energy during the 4th quarter valued at $103,081,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Stock Performance

NASDAQ TLN opened at $359.90 on Monday. The company has a fifty day simple moving average of $379.23 and a 200 day simple moving average of $361.58. Talen Energy Corporation has a 12-month low of $301.45 and a 12-month high of $451.28. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. The company has a market cap of $17.24 billion, a P/E ratio of -537.16 and a beta of 1.82.

Insiders Place Their Bets

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were 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 approximately $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.78% of the company’s stock.

Analysts Set New Price Targets

TLN has been the topic of several research analyst reports. Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Barclays lifted their price target on shares of Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Jefferies Financial Group dropped their price objective on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a report on Monday, July 20th. Wells Fargo & Company increased their price objective on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley restated an “overweight” rating and issued a $508.00 target price on shares of Talen Energy in a research note on Wednesday, June 24th. Nine investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $476.27.

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).