Engle Capital Management L.P. Sells 14,498 Shares of Talen Energy Corporation $TLN

Engle Capital Management L.P. decreased its position in Talen Energy Corporation (NASDAQ:TLN) by 18.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 62,502 shares of the utilities provider’s stock after selling 14,498 shares during the period. Talen Energy comprises approximately 6.8% of Engle Capital Management L.P.’s portfolio, making the stock its 6th largest position. Engle Capital Management L.P.’s holdings in Talen Energy were worth $19,953,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TLN. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Talen Energy by 1,526.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,054 shares of the utilities provider’s stock worth $9,766,000 after acquiring an additional 24,452 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Talen Energy by 11.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 45,250 shares of the utilities provider’s stock worth $16,962,000 after purchasing an additional 4,770 shares during the period. Oppenheimer & Co. Inc. increased its holdings in Talen Energy by 400.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 14,105 shares of the utilities provider’s stock worth $5,287,000 after purchasing an additional 11,287 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in Talen Energy by 116.8% during the 4th quarter. Sanctuary Advisors LLC now owns 6,454 shares of the utilities provider’s stock worth $2,419,000 after purchasing an additional 3,477 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Talen Energy in the 4th quarter valued at about $50,324,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TLN shares. Morgan Stanley restated an “overweight” rating and issued a $508.00 price target on shares of Talen Energy in a report on Wednesday, June 24th. Wells Fargo & Company lifted their target price on Talen Energy from $477.00 to $482.00 and gave the company an “overweight” rating in a research report on Monday. Jefferies Financial Group cut their target price on Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Finally, Scotiabank raised their price target on shares of Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 15th. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $476.73.

Talen Energy Trading Down 3.6%

Talen Energy stock opened at $347.07 on Tuesday. The firm has a 50-day moving average of $379.69 and a 200-day moving average of $361.26. Talen Energy Corporation has a one year low of $301.45 and a one year high of $451.28. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05. The company has a market cap of $16.62 billion, a price-to-earnings ratio of -518.01 and a beta of 1.82.

Insider Transactions at Talen Energy

In related 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.78% of the company’s stock.

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).