Clear Harbor Asset Management LLC Takes $1.82 Million Position in Talen Energy Corporation $TLN

Key Points

• Clear Harbor Asset Management acquired 4,750 Talen Energy shares worth approximately $1.82 million in the second quarter. Several other institutional investors also initiated positions, though institutional ownership remains low at 0.38%.
• Talen Energy shares opened at $314.46, near their one-year low of $301.45 and well below the 50-day and 200-day moving averages. The company reported a quarterly loss of $2.00 per share and revenue of $747 million, missing analyst expectations.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $477.17, despite recent downgrades from some firms and an insider sale of roughly $988,000 in stock.

Clear Harbor Asset Management LLC acquired a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,750 shares of the utilities provider's stock, valued at approximately $1,825,000.

A number of other hedge funds have also recently modified their holdings of the company. Bank of Nova Scotia acquired a new stake in Talen Energy during the second quarter worth about $48,784,000. Elevation Point Wealth Partners LLC acquired a new position in Talen Energy in the 2nd quarter valued at about $2,438,000. Northwestern Mutual Wealth Management Co. acquired a new position in Talen Energy in the 2nd quarter valued at about $41,000. MFN Partners Management LP acquired a new position in Talen Energy in the 2nd quarter valued at about $1,152,780,000,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Talen Energy in the 2nd quarter valued at approximately $413,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Talen Energy Trading Down 0.8%

Shares of TLN stock opened at $314.46 on Friday. The company has a debt-to-equity ratio of 5.82, a current ratio of 0.78 and a quick ratio of 0.55. The firm has a market cap of $15.07 billion, a PE ratio of -75.41 and a beta of 1.90. The company has a 50-day moving average of $369.15 and a two-hundred day moving average of $357.17. Talen Energy Corporation has a 1-year low of $301.45 and a 1-year high of $451.28.

Talen Energy (NASDAQ:TLN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing analysts' consensus estimates of $3.21 by ($5.21). The company had revenue of $747.00 million for the quarter, compared to analyst estimates of $832.81 million. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. On average, analysts predict that Talen Energy Corporation will post 25.07 EPS for the current year.

Insider Buying and Selling at Talen Energy

In related news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the transaction, the director owned 2,606 shares of the company's stock, valued at approximately $990,280. This trade represents a 49.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.78% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Morgan Stanley cut their price target on shares of Talen Energy from $508.00 to $503.00 and set an "overweight" rating for the company in a report on Friday. Wall Street Zen cut Talen Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Weiss Ratings lowered Talen Energy from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday. Jefferies Financial Group cut their target price on Talen Energy from $453.00 to $422.00 and set a "hold" rating for the company in a research note on Monday, July 20th. Finally, Wells Fargo & Company lifted their target price on Talen Energy from $482.00 to $501.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $477.17.

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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