Concentric Capital Strategies LP Sells 8,100 Shares of Talen Energy Corporation $TLN

Concentric Capital Strategies LP lessened its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 34.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,122 shares of the utilities provider’s stock after selling 8,100 shares during the quarter. Concentric Capital Strategies LP’s holdings in Talen Energy were worth $5,668,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Flagship Harbor Advisors LLC acquired a new position in Talen Energy in the fourth quarter worth about $27,000. Assetmark Inc. boosted its holdings in Talen Energy by 581.8% during the third quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Talen Energy in the 3rd quarter valued at approximately $34,000. Advisory Services Network LLC acquired a new position in shares of Talen Energy in the 3rd quarter worth approximately $35,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Talen Energy by 1,500.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after buying an additional 90 shares in the last quarter. 0.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TLN shares. Raymond James Financial reaffirmed an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a report on Monday, April 27th. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. BNP Paribas Exane initiated coverage on shares of Talen Energy in a research note on Wednesday, March 18th. They set an “outperform” rating and a $548.00 price objective on the stock. Barclays lifted their target price 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. Finally, Morgan Stanley restated an “overweight” rating and set a $499.00 price target on shares of Talen Energy in a research report on Thursday, May 21st. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $448.58.

Insider Activity at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the sale, the director owned 2,606 shares of the company’s stock, valued at $990,280. This represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.78% of the stock is currently owned by corporate insiders.

Talen Energy Trading Up 0.8%

NASDAQ:TLN opened at $409.81 on Thursday. Talen Energy Corporation has a 1-year low of $255.50 and a 1-year high of $451.28. The business’s 50-day moving average price is $361.45 and its two-hundred day moving average price is $358.45. 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 firm has a market capitalization of $18.61 billion, a price-to-earnings ratio of -611.65 and a beta of 1.80.

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).