Talen Energy Corporation $TLN Position Lifted by Sachem Head Capital Management LP

Sachem Head Capital Management LP lifted its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 72.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,000,000 shares of the utilities provider’s stock after acquiring an additional 420,000 shares during the period. Talen Energy accounts for approximately 8.8% of Sachem Head Capital Management LP’s portfolio, making the stock its 2nd biggest position. Sachem Head Capital Management LP owned about 2.19% of Talen Energy worth $374,840,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TLN. State Street Corp raised its holdings in shares of Talen Energy by 88.2% during the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after acquiring an additional 627,467 shares during the period. Norges Bank purchased a new position in shares of Talen Energy during the 4th quarter worth $225,930,000. Invesco Ltd. raised its holdings in shares of Talen Energy by 77.5% during the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock worth $452,189,000 after acquiring an additional 464,014 shares during the period. Deltroit Asset Management UK LLP purchased a new position in shares of Talen Energy during the 4th quarter worth $103,081,000. Finally, Voloridge Investment Management LLC raised its holdings in shares of Talen Energy by 475.3% during the 3rd quarter. Voloridge Investment Management LLC now owns 259,475 shares of the utilities provider’s stock worth $110,375,000 after acquiring an additional 214,371 shares during the period. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on TLN. Morgan Stanley reiterated an “overweight” rating and set a $499.00 price target on shares of Talen Energy in a report on Thursday, May 21st. Raymond James Financial reiterated an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a report on Monday, April 27th. JPMorgan Chase & Co. reduced their price target on Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a report on Thursday, March 19th. Barclays lifted their price target on Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Talen Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $448.58.

Talen Energy Price Performance

Shares of TLN opened at $360.54 on Monday. The firm has a market cap of $16.37 billion, a P/E ratio of -538.11 and a beta of 1.81. Talen Energy Corporation has a 12-month low of $255.50 and a 12-month high of $451.28. The company’s 50-day moving average price is $356.99 and its 200 day moving average price is $358.18. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32.

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).