Clark Capital Management Group Inc. Takes $5.81 Million Position in Talen Energy Corporation $TLN

Key Points

• Clark Capital Management opened a new position in Talen Energy in Q3, buying 13,656 shares worth approximately $5.81 million.
• Institutional ownership of TLN remains very low at 0.38%, although several smaller funds also added or increased stakes during the quarter.
• Analysts are mixed but the consensus rating is a "Moderate Buy" with a $430.09 price target; individual targets range roughly from $425 to $506 while Weiss Ratings downgraded the stock to a sell.

Clark Capital Management Group Inc. purchased a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,656 shares of the utilities provider's stock, valued at approximately $5,809,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MAI Capital Management lifted its holdings in Talen Energy by 115.7% during the second quarter. MAI Capital Management now owns 110 shares of the utilities provider's stock worth $32,000 after buying an additional 59 shares during the period. Grove Bank & Trust purchased a new position in shares of Talen Energy in the 3rd quarter valued at $32,000. Assetmark Inc. increased its holdings in shares of Talen Energy by 581.8% in the 3rd quarter. Assetmark Inc. now owns 75 shares of the utilities provider's stock valued at $32,000 after acquiring an additional 64 shares during the period. Neo Ivy Capital Management bought a new position in shares of Talen Energy in the 3rd quarter worth $34,000. Finally, Optiver Holding B.V. bought a new position in shares of Talen Energy in the 3rd quarter worth $48,000. 0.38% of the stock is currently owned by institutional investors.

Talen Energy Stock Up 1.5%

Shares of TLN stock opened at $316.14 on Monday. The stock's fifty day moving average price is $360.32 and its 200 day moving average price is $380.75. Talen Energy Corporation has a 1-year low of $162.31 and a 1-year high of $451.28. The company has a market cap of $14.44 billion, a price-to-earnings ratio of -64.00, a price-to-earnings-growth ratio of 0.45 and a beta of 1.94. The company has a debt-to-equity ratio of 6.20, a current ratio of 1.28 and a quick ratio of 1.02.

Analyst Ratings Changes

A number of brokerages recently weighed in on TLN. Weiss Ratings downgraded Talen Energy from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, February 27th. Morgan Stanley set a $474.00 target price on shares of Talen Energy in a report on Friday, February 20th. Barclays decreased their price target on shares of Talen Energy from $457.00 to $425.00 and set an "overweight" rating for the company in a research report on Wednesday, February 11th. Finally, Wells Fargo & Company lifted their price objective on shares of Talen Energy from $445.00 to $506.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 20th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus 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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