Aristeia Capital L.L.C. Raises Position in Talen Energy Corporation $TLN

Key Points

• Aristeia Capital L.L.C. increased its holdings in Talen Energy Corporation by 95%, acquiring an additional 1,074 shares and bringing its total to 2,204 shares valued at approximately $440,000.
• Talen Energy reported a net profit of $1.50 earnings per share for the last quarter, significantly exceeding analyst expectations of ($1.13) and achieving $630 million in revenue.
• Despite a decline in insider ownership after Rubric Capital Management sold 178,000 shares, multiple analysts maintain a Buy rating on Talen Energy, with a consensus target price of $326.08.

Aristeia Capital L.L.C. increased its position in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 95.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,204 shares of the utilities provider's stock after buying an additional 1,074 shares during the period. Aristeia Capital L.L.C.'s holdings in Talen Energy were worth $440,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TLN. Third Point LLC purchased a new stake in shares of Talen Energy in the first quarter worth about $116,807,000. Fred Alger Management LLC lifted its position 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 worth $297,937,000 after buying an additional 537,398 shares in the last quarter. PointState Capital LP bought a new stake in Talen Energy during the first quarter worth approximately $75,148,000. Ameriprise Financial Inc. increased its stake 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 acquiring an additional 299,143 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in shares of 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 valued at $44,614,000 after buying an additional 223,254 shares during the last quarter. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Talen Energy

In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the completion of the sale, the insider owned 5,734,970 shares in the company, valued at approximately $1,697,780,518.80. This represents a 3.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 388,530 shares of company stock worth $114,090,933. Corporate insiders own 0.18% of the company's stock.

Talen Energy Stock Up 0.4%

Talen Energy stock traded up $1.61 during mid-day trading on Friday, reaching $402.53. 435,205 shares of the company were exchanged, compared to its average volume of 1,161,560. The business has a fifty day moving average of $353.19 and a 200 day moving average of $271.93. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.34 and a current ratio of 1.84. The firm has a market cap of $18.39 billion, a P/E ratio of 114.03, a PEG ratio of 1.92 and a beta of 1.89. Talen Energy Corporation has a 12-month low of $148.02 and a 12-month high of $410.00.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TLN shares. UBS Group set a $431.00 target price on Talen Energy and gave the company a "buy" rating in a research note on Friday, July 25th. Jefferies Financial Group upped their target price on Talen Energy from $326.00 to $380.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Morgan Stanley upped their target price on Talen Energy from $330.00 to $430.00 and gave the company an "overweight" rating in a research note on Wednesday. Evercore ISI increased their price objective on Talen Energy from $410.00 to $450.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Wall Street Zen raised Talen Energy from a "sell" rating to a "hold" rating in a research note on Monday, August 11th. Fifteen analysts have rated the stock with a Buy rating, According to data from MarketBeat, Talen Energy currently has a consensus rating of "Buy" and an average price target of $354.29.

About Talen Energy

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.