Absolute Gestao de Investimentos Ltda. Acquires New Holdings in Talen Energy Corporation $TLN

Key Points

• Absolute Gestao de Investimentos Ltda. acquired 16,950 shares of Talen Energy Corporation, valued at approximately $3.4 million, making it the 13th largest holding in their investment portfolio.
• Institutional investors have shown increased interest in Talen Energy, with Fred Alger Management LLC and Allspring Global Investments significantly boosting their stakes during the last quarter.
• Talen Energy reported better-than-expected earnings of $1.50 per share for their most recent quarter, surpassing consensus estimates by $2.63.

Absolute Gestao de Investimentos Ltda. acquired a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 16,950 shares of the utilities provider's stock, valued at approximately $3,384,000. Talen Energy comprises about 1.4% of Absolute Gestao de Investimentos Ltda.'s investment portfolio, making the stock its 13th largest holding.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TLN. Fred Alger Management LLC increased its position in Talen Energy by 152.9% in the 4th quarter. Fred Alger Management LLC now owns 954,747 shares of the utilities provider's stock valued at $192,353,000 after acquiring an additional 577,257 shares during the period. Encompass Capital Advisors LLC acquired a new position in Talen Energy in the 4th quarter valued at approximately $48,333,000. Lone Pine Capital LLC increased its position in Talen Energy by 27.2% in the 4th quarter. Lone Pine Capital LLC now owns 1,089,380 shares of the utilities provider's stock valued at $219,477,000 after acquiring an additional 233,165 shares during the period. Allspring Global Investments Holdings LLC increased its position in Talen Energy by 1,210.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 131,082 shares of the utilities provider's stock valued at $27,192,000 after acquiring an additional 121,082 shares during the period. Finally, Castle Hook Partners LP acquired a new position in Talen Energy in the 4th quarter valued at approximately $24,201,000. Institutional investors own 0.38% of the company's stock.

Insider Buying and Selling at Talen Energy

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 shares were sold at an average price of $296.04, for a total value of $52,695,120.00. Following the transaction, the insider directly owned 5,734,970 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Insiders have sold 388,530 shares of company stock valued at $114,090,933 over the last 90 days.

Analyst Ratings Changes

Several equities analysts have issued reports on TLN shares. Jefferies Financial Group upped their price target on shares of Talen Energy from $326.00 to $380.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Raymond James Financial initiated coverage on shares of Talen Energy in a research report on Friday, June 13th. They issued an "outperform" rating and a $314.00 price target for the company. Susquehanna reiterated an "overweight" rating on shares of Talen Energy in a research report on Thursday, June 12th. Oppenheimer set a $315.00 price objective on shares of Talen Energy and gave the stock an "outperform" rating in a research report on Friday, July 11th. Finally, UBS Group set a $431.00 price objective on shares of Talen Energy and gave the stock a "buy" rating in a research report on Friday, July 25th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $297.50.

Talen Energy Trading Down 0.7%

NASDAQ:TLN opened at $377.82 on Monday. 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 stock has a market capitalization of $17.26 billion, a price-to-earnings ratio of 107.03, a PEG ratio of 2.78 and a beta of 1.90. The firm has a fifty day simple moving average of $314.94 and a two-hundred day simple moving average of $252.17. Talen Energy Corporation has a 12 month low of $131.31 and a 12 month high of $394.07.

Talen Energy (NASDAQ:TLN - Get Free Report) last released 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. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. The firm had revenue of $630.00 million for the quarter, compared to analyst estimates of $481.48 million. Analysts expect that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

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.

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