CI Investments Inc. Decreases Position in Talen Energy Corporation $TLN

Key Points

• CI Investments Inc. trimmed its stake in Talen Energy by 99.4% in Q3, selling 11,840 shares and retaining 75 shares worth about $32,000.
• Institutional and hedge fund ownership of TLN is very low at 0.38%, though several smaller funds recently opened or increased modest positions.
• TLN shares traded near $331.58 with a market cap of $15.15B and a negative P/E (-67.12); analysts' consensus is a Moderate Buy with an average target of $430.09, but individual targets and ratings remain mixed.

CI Investments Inc. trimmed its holdings in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 99.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75 shares of the utilities provider's stock after selling 11,840 shares during the quarter. CI Investments Inc.'s holdings in Talen Energy were worth $32,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp purchased a new stake in shares of Talen Energy during the 2nd quarter worth approximately $27,000. MAI Capital Management grew its position in shares of Talen Energy by 115.7% in the 2nd quarter. MAI Capital Management now owns 110 shares of the utilities provider's stock valued at $32,000 after buying an additional 59 shares during the last quarter. Grove Bank & Trust purchased a new position in shares of Talen Energy in the 3rd quarter valued at $32,000. Assetmark Inc. raised its stake in Talen Energy by 581.8% during the 3rd quarter. Assetmark Inc. now owns 75 shares of the utilities provider's stock worth $32,000 after acquiring an additional 64 shares in the last quarter. Finally, Optiver Holding B.V. acquired a new stake in Talen Energy during the 3rd quarter worth $48,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Talen Energy Stock Down 1.1%

Shares of NASDAQ:TLN opened at $331.58 on Wednesday. Talen Energy Corporation has a 1-year low of $162.31 and a 1-year high of $451.28. The company has a debt-to-equity ratio of 6.20, a current ratio of 1.28 and a quick ratio of 1.02. The stock has a market cap of $15.15 billion, a P/E ratio of -67.12, a P/E/G ratio of 0.49 and a beta of 1.94. The firm has a fifty day moving average price of $364.37 and a 200 day moving average price of $381.96.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TLN shares. Weiss Ratings downgraded shares of Talen Energy from a "hold (c)" rating to a "sell (d+)" rating in a research note on Friday, February 27th. Morgan Stanley set a $474.00 target price on Talen Energy in a report on Friday, February 20th. Wells Fargo & Company upped their target price on Talen Energy from $445.00 to $506.00 and gave the company an "overweight" rating in a research report on Tuesday, January 20th. Finally, Barclays dropped their price target on Talen Energy from $457.00 to $425.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 11th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $430.09.

About Talen Energy

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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