Two Creeks Capital Management LP Has $61.60 Million Stake in Talen Energy Corporation $TLN

Two Creeks Capital Management LP lowered its position in Talen Energy Corporation (NASDAQ:TLN) by 57.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 144,813 shares of the utilities provider’s stock after selling 192,072 shares during the period. Talen Energy accounts for 4.4% of Two Creeks Capital Management LP’s portfolio, making the stock its 8th largest holding. Two Creeks Capital Management LP owned about 0.32% of Talen Energy worth $61,601,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Grove Bank & Trust bought a new position in Talen Energy in the 3rd quarter valued at $32,000. Assetmark Inc. grew its holdings in shares of Talen Energy by 581.8% during the third quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Talen Energy in the third quarter valued at $34,000. MAI Capital Management increased its stake in shares of Talen Energy by 115.7% in the second quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock valued at $32,000 after buying an additional 59 shares in the last quarter. Finally, Optiver Holding B.V. bought a new position in shares of Talen Energy in the third quarter valued at about $48,000. 0.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TLN. Morgan Stanley set a $474.00 price objective on shares of Talen Energy in a research report on Friday, February 20th. Weiss Ratings cut shares of Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, February 27th. Wells Fargo & Company upped their price objective on Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Finally, Barclays lowered their target price on Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Talen Energy currently has an average rating of “Moderate Buy” and a consensus target price of $430.09.

Talen Energy Stock Up 1.5%

Shares of NASDAQ:TLN opened at $316.14 on Friday. Talen Energy Corporation has a one year low of $162.31 and a one year high of $451.28. The company has a 50 day moving average of $360.32 and a 200-day moving average of $380.74. The company has a debt-to-equity ratio of 6.20, a current ratio of 1.28 and a quick ratio of 1.02. The stock has a market cap of $14.44 billion, a price-to-earnings ratio of -64.00, a P/E/G ratio of 0.45 and a beta of 1.94.

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).