Corsair Capital Management L.P. Sells 1,800 Shares of Talen Energy Corporation $TLN

Key Points

• Corsair Capital Management L.P. reduced its stake in Talen Energy Corporation by 35.7%, selling 1,800 shares and leaving it with a total of 3,240 shares valued at $647,000.
• Analysts have shown positive sentiment towards Talen Energy, with several firms increasing their price targets, including Barclays, which raised its target from $353.00 to $418.00 and gave it an "overweight" rating.
• Major shareholder Rubric Capital Management sold 178,000 shares for over $52 million, which resulted in a 3.01% decrease in their ownership stake in Talen Energy.

Corsair Capital Management L.P. cut its stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 35.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,240 shares of the utilities provider's stock after selling 1,800 shares during the period. Corsair Capital Management L.P.'s holdings in Talen Energy were worth $647,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TLN. Signaturefd LLC increased its position in shares of Talen Energy by 310.0% during the first quarter. Signaturefd LLC now owns 123 shares of the utilities provider's stock valued at $25,000 after buying an additional 93 shares during the period. Brooklyn Investment Group bought a new stake in shares of Talen Energy during the first quarter valued at about $25,000. Golden State Wealth Management LLC bought a new stake in shares of Talen Energy during the first quarter valued at about $35,000. LRI Investments LLC increased its position in shares of Talen Energy by 179.0% during the first quarter. LRI Investments LLC now owns 173 shares of the utilities provider's stock valued at $35,000 after buying an additional 111 shares during the period. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Talen Energy during the first quarter valued at about $35,000. 0.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays upped their price objective on shares of Talen Energy from $353.00 to $418.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. UBS Group set a $431.00 price objective on shares of Talen Energy and gave the stock a "buy" rating in a research report on Friday, July 25th. Raymond James Financial assumed coverage on shares of Talen Energy in a research report on Friday, June 13th. They issued an "outperform" rating and a $314.00 price objective on the stock. Wall Street Zen upgraded shares of Talen Energy from a "sell" rating to a "hold" rating in a research report on Monday, August 11th. Finally, Morgan Stanley upped their price objective on shares of Talen Energy from $300.00 to $330.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Sixteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Talen Energy has a consensus rating of "Buy" and a consensus target price of $316.00.

Insider Buying and Selling

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the transaction, the insider directly owned 5,734,970 shares in the company, valued at $1,697,780,518.80. This trade represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 388,530 shares of company stock worth $114,090,933 in the last quarter. 0.18% of the stock is owned by company insiders.

Talen Energy Stock Up 1.8%

Shares of NASDAQ TLN opened at $388.22 on Friday. Talen Energy Corporation has a one year low of $137.50 and a one year high of $394.25. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.84 and a quick ratio of 1.34. The firm's 50 day simple moving average is $331.67 and its two-hundred day simple moving average is $260.31. The stock has a market capitalization of $17.74 billion, a P/E ratio of 109.98, a PEG ratio of 2.62 and a beta of 1.90.

Talen Energy (NASDAQ:TLN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $1.50 EPS for the quarter, beating analysts' consensus estimates of ($1.13) by $2.63. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. The business had revenue of $630.00 million for the quarter, compared to analysts' expectations of $481.48 million. As a group, analysts expect that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

Talen Energy Company Profile

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.

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