Arrowstreet Capital Limited Partnership Has $87.82 Million Stock Position in Talen Energy Corporation $TLN

Key Points

• Arrowstreet Capital increased its Talen Energy stake by 69% in the first quarter, holding 275,105 shares worth approximately $87.82 million, or 0.61% of the company.
• Several other institutional investors also expanded their positions, although institutional and hedge-fund ownership was reported at just 0.38% of outstanding shares.
• Analysts remain broadly positive: Talen Energy has a “Moderate Buy” consensus rating from 13 analysts and an average price target of $476.27, versus a recent share price of $359.90.

Arrowstreet Capital Limited Partnership grew its holdings in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 69.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 275,105 shares of the utilities provider's stock after acquiring an additional 112,317 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.61% of Talen Energy worth $87,822,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its position in Talen Energy by 1,526.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,054 shares of the utilities provider's stock valued at $9,766,000 after purchasing an additional 24,452 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in shares of Talen Energy by 11.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 45,250 shares of the utilities provider's stock worth $16,962,000 after purchasing an additional 4,770 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of Talen Energy by 400.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 14,105 shares of the utilities provider's stock worth $5,287,000 after purchasing an additional 11,287 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of Talen Energy by 116.8% in the 4th quarter. Sanctuary Advisors LLC now owns 6,454 shares of the utilities provider's stock valued at $2,419,000 after purchasing an additional 3,477 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Talen Energy in the 4th quarter valued at $50,324,000. Institutional investors and hedge funds own 0.38% of the company's stock.

Talen Energy Price Performance

Shares of NASDAQ TLN opened at $359.90 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32. The firm has a market cap of $17.24 billion, a PE ratio of -537.16 and a beta of 1.82. The company's fifty day simple moving average is $379.23 and its 200 day simple moving average is $361.58. Talen Energy Corporation has a 12-month low of $301.45 and a 12-month high of $451.28.

Insider Buying and Selling at Talen Energy

In related news, Director Gizman I. Abbas sold 2,600 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the transaction, the director directly owned 2,606 shares of the company's stock, valued at approximately $990,280. This represents a 49.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.78% of the company's stock.

Analyst Ratings Changes

TLN has been the topic of several recent analyst reports. Morgan Stanley restated an "overweight" rating and issued a $508.00 target price on shares of Talen Energy in a report on Wednesday, June 24th. Scotiabank increased their price target on Talen Energy from $463.00 to $470.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 15th. The Goldman Sachs Group assumed coverage on Talen Energy in a research report on Thursday, June 18th. They issued a "buy" rating and a $499.00 price objective for the company. Wells Fargo & Company upped their target price on Talen Energy from $465.00 to $477.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings raised Talen Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, May 7th. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Talen Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $476.27.

Talen Energy Company Profile

Talen Energy Inc is an independent power producer that develops and operates a diversified portfolio of thermal and renewable generation facilities across the United States. The company supplies wholesale electricity and related services to utilities, large industrial customers, and power marketers, participating actively in regional markets such as PJM Interconnection and the Electric Reliability Council of Texas (ERCOT). Talen's asset base comprises a mix of natural gas-fired, coal-fired and nuclear generation, supplemented by battery storage and other flexible resources designed to support the evolving needs of the grid.

Established in December 2015 through the combination of the competitive generation businesses previously held by two major utility groups, Talen Energy was structured as a standalone, publicly traded entity on the NASDAQ stock exchange (TLN).

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