MFN Partners Management LP Purchases Shares of 3,000,000 Talen Energy Corporation $TLN

Key Points

• MFN Partners Management LP acquired 3 million Talen Energy shares in the second quarter, giving it a 6.26% stake and making Talen its second-largest portfolio holding at approximately 23.8% of assets.
• Talen shares were trading at $314.46, down 0.8%, after the company reported a quarterly loss of $2.00 per share and revenue of $747 million—both below analyst expectations.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus rating and an average price target of $477.17, although targets range from $449 to $509 and one research firm rated the stock a sell.

MFN Partners Management LP bought a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,000,000 shares of the utilities provider's stock, valued at approximately $1,152,780,000,000. Talen Energy accounts for approximately 23.8% of MFN Partners Management LP's investment portfolio, making the stock its 2nd biggest holding. MFN Partners Management LP owned 6.26% of Talen Energy as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisory Services Network LLC purchased a new stake in Talen Energy during the third quarter worth about $35,000. Northwestern Mutual Wealth Management Co. increased its stake in Talen Energy by 1,500.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider's stock worth $36,000 after buying an additional 90 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Talen Energy during the 2nd quarter worth approximately $38,000. Bessemer Group Inc. lifted its holdings in Talen Energy by 404.0% during the 1st quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider's stock worth $41,000 after buying an additional 101 shares in the last quarter. Finally, Silvant Capital Management LLC purchased a new position in Talen Energy in the 2nd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Talen Energy Trading Down 0.8%

NASDAQ:TLN opened at $314.46 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.55 and a debt-to-equity ratio of 5.82. The firm has a market cap of $15.07 billion, a P/E ratio of -75.41 and a beta of 1.90. The stock's 50 day simple moving average is $369.15 and its 200-day simple moving average is $357.17. Talen Energy Corporation has a 12-month low of $301.45 and a 12-month high of $451.28.

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

Analysts Set New Price Targets

Several equities analysts have commented on TLN shares. The Goldman Sachs Group restated a "buy" rating and issued a $509.00 price target on shares of Talen Energy in a research note on Monday, August 10th. Zacks Research raised Talen Energy from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. Weiss Ratings downgraded Talen Energy from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday. Susquehanna set a $449.00 price target on Talen Energy in a research report on Friday, August 7th. Finally, Morgan Stanley decreased their price objective on Talen Energy from $508.00 to $503.00 and set an "overweight" rating for the company in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $477.17.

Insider Buying and Selling

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the sale, the director owned 2,606 shares of the company's stock, valued at approximately $990,280. The trade was a 49.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.78% of the stock is currently owned by insiders.

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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