Millennium Management LLC Trims Stock Position in Talen Energy Corporation (NASDAQ:TLN)

Millennium Management LLC cut its position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 27.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,637 shares of the utilities provider's stock after selling 27,606 shares during the period. Millennium Management LLC owned approximately 0.14% of Talen Energy worth $14,433,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Talen Energy during the fourth quarter worth about $1,313,000. Laurion Capital Management LP raised its stake in Talen Energy by 28.7% during the fourth quarter. Laurion Capital Management LP now owns 18,810 shares of the utilities provider's stock worth $3,790,000 after purchasing an additional 4,200 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Talen Energy in the 4th quarter valued at approximately $3,845,000. Janus Henderson Group PLC purchased a new stake in shares of Talen Energy in the 4th quarter valued at approximately $3,343,000. Finally, Gotham Asset Management LLC acquired a new position in shares of Talen Energy in the fourth quarter valued at approximately $7,341,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Stock Performance

Shares of TLN opened at $238.63 on Friday. The company has a 50-day simple moving average of $212.86 and a 200-day simple moving average of $213.63. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $10.86 billion, a PE ratio of 12.77, a P/E/G ratio of 2.70 and a beta of 1.90. Talen Energy Corporation has a 52-week low of $98.50 and a 52-week high of $258.03.

Talen Energy (NASDAQ:TLN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $1.17 by ($0.35). Talen Energy had a net margin of 50.48% and a return on equity of 8.59%. The business had revenue of $390.00 million during the quarter, compared to analyst estimates of $556.93 million. Equities research analysts predict that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley started coverage on shares of Talen Energy in a report on Wednesday, March 12th. They set an "overweight" rating and a $243.00 price target for the company. Wall Street Zen downgraded shares of Talen Energy from a "hold" rating to a "sell" rating in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on shares of Talen Energy from $295.00 to $265.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. UBS Group cut their price objective on shares of Talen Energy from $275.00 to $259.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Evercore ISI initiated coverage on shares of Talen Energy in a research report on Friday, February 21st. They set an "outperform" rating for the company. One investment analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $240.18.

Talen Energy 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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