Clearline Capital LP Makes New $18.55 Million Investment in Talen Energy Corporation $TLN

Key Points

• Clearline Capital LP purchased 92,887 shares of Talen Energy Corporation for approximately $18.5 million, making it the 17th largest position in their portfolio.
• Talen Energy's stock performance showed strong quarterly earnings, reporting $1.50 earnings per share, significantly surpassing analysts' expectations of a loss.
• A major shareholder, Rubric Capital Management Lp, sold 178,000 shares of Talen Energy at around $296.04 each, leading to a 3.01% decrease in their ownership.

Clearline Capital LP acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 92,887 shares of the utilities provider's stock, valued at approximately $18,547,000. Talen Energy makes up 1.1% of Clearline Capital LP's holdings, making the stock its 17th largest position. Clearline Capital LP owned 0.20% of Talen Energy at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TLN. Third Point LLC purchased a new stake in Talen Energy during the 1st quarter worth approximately $116,807,000. Fred Alger Management LLC increased its holdings in shares of Talen Energy by 56.3% in the first quarter. Fred Alger Management LLC now owns 1,492,145 shares of the utilities provider's stock valued at $297,937,000 after purchasing an additional 537,398 shares during the last quarter. PointState Capital LP acquired a new stake in shares of Talen Energy in the first quarter valued at approximately $75,148,000. Ameriprise Financial Inc. lifted its position in Talen Energy by 6,621.1% during the first quarter. Ameriprise Financial Inc. now owns 303,661 shares of the utilities provider's stock worth $60,638,000 after buying an additional 299,143 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in Talen Energy by 120,677.8% during the first quarter. Jones Financial Companies Lllp now owns 223,439 shares of the utilities provider's stock worth $44,614,000 after buying an additional 223,254 shares in the last quarter. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the firm's stock in a transaction 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 sale, the insider directly owned 5,734,970 shares in the company, valued at $1,697,780,518.80. This trade represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 388,530 shares of company stock valued at $114,090,933 in the last 90 days. 0.18% of the stock is owned by company insiders.

Talen Energy Stock Up 0.4%

Talen Energy stock traded up $1.61 during midday trading on Friday, reaching $402.53. The company's stock had a trading volume of 435,205 shares, compared to its average volume of 1,161,560. Talen Energy Corporation has a fifty-two week low of $148.02 and a fifty-two week high of $410.00. The company has a quick ratio of 1.34, a current ratio of 1.84 and a debt-to-equity ratio of 2.39. The company has a market cap of $18.39 billion, a P/E ratio of 114.03, a P/E/G ratio of 1.92 and a beta of 1.89. The business has a 50-day simple moving average of $353.19 and a 200-day simple moving average of $271.93.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $481.48 million. On average, research analysts expect that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TLN. Evercore ISI lifted their price objective on Talen Energy from $410.00 to $450.00 and gave the stock an "outperform" rating in a research report on Tuesday. Jefferies Financial Group upped their price target on Talen Energy from $326.00 to $380.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Morgan Stanley increased their price objective on Talen Energy from $330.00 to $430.00 and gave the company an "overweight" rating in a research note on Wednesday. Raymond James Financial assumed coverage on Talen Energy in a research note on Friday, June 13th. They issued an "outperform" rating and a $314.00 price objective on the stock. Finally, UBS Group set a $431.00 price objective on Talen Energy and gave the company a "buy" rating in a research note on Friday, July 25th. Fifteen analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $354.29.

Talen Energy 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.