92,887 Shares in Talen Energy Corporation $TLN Purchased by Clearline Capital LP

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) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 92,887 shares of the utilities provider's stock, valued at approximately $18,547,000. Talen Energy makes up about 1.1% of Clearline Capital LP's holdings, making the stock its 17th largest position. Clearline Capital LP owned about 0.20% of Talen Energy as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wedbush Securities Inc. boosted its holdings in Talen Energy by 4.4% during the first quarter. Wedbush Securities Inc. now owns 1,316 shares of the utilities provider's stock worth $263,000 after buying an additional 55 shares in the last quarter. IFP Advisors Inc boosted its holdings in Talen Energy by 42.4% during the first quarter. IFP Advisors Inc now owns 188 shares of the utilities provider's stock worth $38,000 after buying an additional 56 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in Talen Energy by 2.7% during the first quarter. Knights of Columbus Asset Advisors LLC now owns 3,394 shares of the utilities provider's stock worth $678,000 after buying an additional 88 shares in the last quarter. Signaturefd LLC boosted its holdings in Talen Energy by 310.0% during the first quarter. Signaturefd LLC now owns 123 shares of the utilities provider's stock worth $25,000 after buying an additional 93 shares in the last quarter. Finally, LRI Investments LLC boosted its holdings in Talen Energy by 179.0% during the first quarter. LRI Investments LLC now owns 173 shares of the utilities provider's stock worth $35,000 after buying an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 0.38% of the company's stock.

Talen Energy Stock Performance

Shares of NASDAQ TLN opened at $389.19 on Monday. The company has a 50-day simple moving average of $342.25 and a 200-day simple moving average of $266.41. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.84 and a quick ratio of 1.34. The company has a market cap of $17.78 billion, a PE ratio of 110.25, a price-to-earnings-growth ratio of 2.68 and a beta of 1.89. Talen Energy Corporation has a 12 month low of $137.55 and a 12 month high of $394.25.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $630.00 million during the quarter, compared to analyst estimates of $481.48 million. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. On average, equities analysts anticipate that Talen Energy Corporation will post 15.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on TLN shares. Susquehanna reissued an "overweight" rating on shares of Talen Energy in a report on Thursday, June 12th. Barclays lifted their target price on shares of Talen Energy from $353.00 to $418.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Melius Research began coverage on shares of Talen Energy in a research report on Wednesday, August 20th. They issued a "buy" rating and a $427.00 price target on the stock. Raymond James Financial initiated coverage on Talen Energy in a research report on Friday, June 13th. They set an "outperform" rating and a $314.00 price objective for the company. Finally, 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. Fifteen equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $326.08.

Insider Buying and Selling at Talen Energy

In other 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 shares were sold at an average price of $296.04, for a total value of $52,695,120.00. Following the completion of the transaction, the insider owned 5,734,970 shares of the company's stock, valued at $1,697,780,518.80. The trade was a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 388,530 shares of company stock valued at $114,090,933 over the last ninety days.

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.

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