376,362 Shares in Talen Energy Corporation $TLN Purchased by PointState Capital LP

Key Points

• PointState Capital LP acquired 376,362 shares of Talen Energy Corporation, valued at approximately $75 million, making it the 27th largest position in their portfolio.
• Analysts have a consensus “Buy” rating on Talen Energy, with a target price range from $315 to $431, indicating strong investor confidence.
• Major shareholder Rubric Capital Management sold 178,000 shares for over $52 million, reducing their stake by 3.01% while still holding significant shares valued at nearly $1.7 billion.

PointState Capital LP acquired a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 376,362 shares of the utilities provider's stock, valued at approximately $75,148,000. Talen Energy accounts for about 1.1% of PointState Capital LP's investment portfolio, making the stock its 27th biggest holding. PointState Capital LP owned about 0.83% of Talen Energy as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Talen Energy by 7,285.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 517 shares of the utilities provider's stock valued at $104,000 after buying an additional 510 shares during the period. Northern Trust Corp lifted its position in Talen Energy by 7.8% in the 4th quarter. Northern Trust Corp now owns 118,949 shares of the utilities provider's stock valued at $23,965,000 after acquiring an additional 8,626 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Talen Energy by 6.1% in the 4th quarter. Ameriprise Financial Inc. now owns 4,518 shares of the utilities provider's stock valued at $910,000 after acquiring an additional 261 shares in the last quarter. Cetera Investment Advisers acquired a new position in Talen Energy in the 4th quarter worth $490,000. Finally, Cresset Asset Management LLC bought a new position in Talen Energy during the 4th quarter worth about $312,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Melius Research initiated coverage on Talen Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $427.00 price target on the stock. Oppenheimer set a $315.00 target price on Talen Energy and gave the company an "outperform" rating in a research note on Friday, July 11th. Melius began coverage on Talen Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $427.00 price target for the company. Jefferies Financial Group lifted their price objective on shares of Talen Energy from $326.00 to $380.00 and gave the company a "buy" rating in a report on Friday, July 18th. Finally, Wall Street Zen raised shares of Talen Energy from a "sell" rating to a "hold" rating in a research report on Monday, August 11th. Fifteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Talen Energy has an average rating of "Buy" and an average target price of $334.93.

Talen Energy Stock Performance

Shares of Talen Energy stock traded up $5.94 during trading on Tuesday, hitting $389.43. 966,538 shares of the stock were exchanged, compared to its average volume of 1,135,608. The company has a current ratio of 1.84, a quick ratio of 1.34 and a debt-to-equity ratio of 2.39. The company has a fifty day moving average price of $346.29 and a 200-day moving average price of $268.41. The stock has a market capitalization of $17.79 billion, a price-to-earnings ratio of 110.32, a price-to-earnings-growth ratio of 2.64 and a beta of 1.89. Talen Energy Corporation has a 1-year low of $145.05 and a 1-year high of $398.78.

Talen Energy (NASDAQ:TLN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.13) by $2.63. Talen Energy had a return on equity of 17.81% and a net margin of 8.75%.The company had revenue of $630.00 million during the quarter, compared to analysts' expectations of $481.48 million. As a group, equities analysts predict that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $296.04, for a total value of $52,695,120.00. Following the completion of the sale, the insider directly owned 5,734,970 shares in the company, valued at approximately $1,697,780,518.80. The trade was a 3.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 388,530 shares of company stock valued at $114,090,933 in the last three months.

Talen Energy Company Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.