Clearline Capital LP Has $11.51 Million Stake in Talen Energy Corporation $TLN

Clearline Capital LP trimmed its stake in Talen Energy Corporation (NASDAQ:TLN) by 64.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,049 shares of the utilities provider’s stock after selling 49,218 shares during the period. Clearline Capital LP’s holdings in Talen Energy were worth $11,506,000 as of its most recent SEC filing.

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

Talen Energy Trading Up 1.5%

Shares of NASDAQ TLN opened at $316.14 on Friday. Talen Energy Corporation has a 1-year low of $162.31 and a 1-year high of $451.28. The company has a 50-day moving average of $360.32 and a two-hundred day moving average of $380.75. The company has a market cap of $14.44 billion, a PE ratio of -64.00, a P/E/G ratio of 0.45 and a beta of 1.94. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 6.20.

Analysts Set New Price Targets

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

Talen Energy Company 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).