Talen Energy Corporation $TLN Shares Sold by Newbrook Capital Advisors LP

Key Points

• Newbrook Capital Advisors LP reduced its stake in Talen Energy Corporation by 10.7%, now holding 109,782 shares, which constitutes 3.5% of its investment portfolio.
• Talen Energy reported earnings of $1.50 per share, significantly exceeding analysts' expectations of ($1.13), and had revenue of $630 million, surpassing expected revenue of $481 million.
• Following recent performance reviews, several analysts have set new price targets for Talen Energy, with ratings ranging from "hold" to "buy," and an average price target of $316.00.

Newbrook Capital Advisors LP reduced its position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 10.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 109,782 shares of the utilities provider's stock after selling 13,087 shares during the quarter. Talen Energy comprises approximately 3.5% of Newbrook Capital Advisors LP's holdings, making the stock its 16th largest holding. Newbrook Capital Advisors LP owned 0.24% of Talen Energy worth $21,920,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its position in shares of Talen Energy by 75.8% during the 1st quarter. Russell Investments Group Ltd. now owns 17,502 shares of the utilities provider's stock valued at $3,495,000 after acquiring an additional 7,547 shares during the last quarter. Crescent Grove Advisors LLC bought a new position in shares of Talen Energy during the 1st quarter valued at approximately $285,000. Thoroughbred Financial Services LLC bought a new position in shares of Talen Energy during the 1st quarter valued at approximately $756,000. TCW Group Inc. bought a new position in shares of Talen Energy during the 1st quarter valued at approximately $9,266,000. Finally, Principal Financial Group Inc. boosted its position in shares of Talen Energy by 114.9% during the 1st quarter. Principal Financial Group Inc. now owns 3,591 shares of the utilities provider's stock valued at $717,000 after acquiring an additional 1,920 shares during the last quarter. 0.38% of the stock is currently owned by institutional investors.

Talen Energy Stock Up 0.7%

Shares of Talen Energy stock traded up $2.68 on Thursday, reaching $380.44. The stock had a trading volume of 523,865 shares, compared to its average volume of 1,191,750. The company has a quick ratio of 1.34, a current ratio of 1.84 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $17.38 billion, a P/E ratio of 107.77, a P/E/G ratio of 2.61 and a beta of 1.89. The company has a 50 day moving average price of $338.64 and a 200 day moving average price of $264.16. Talen Energy Corporation has a 1 year low of $137.55 and a 1 year high of $394.25.

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

Analysts Set New Price Targets

Several analysts recently weighed in on TLN shares. Melius Research started coverage on Talen Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $427.00 price target on the stock. Susquehanna restated an "overweight" rating on shares of Talen Energy in a report on Thursday, June 12th. Morgan Stanley increased their price target on Talen Energy from $300.00 to $330.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Melius started coverage on Talen Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $427.00 price target on the stock. Finally, Wall Street Zen upgraded Talen Energy from a "sell" rating to a "hold" rating in a report on Monday, August 11th. Sixteen equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $316.00.

Insiders Place Their Bets

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of Talen Energy stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the completion of the transaction, the insider directly owned 5,734,970 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Insiders sold 388,530 shares of company stock worth $114,090,933 in the last three months. 0.18% of the stock is currently owned by company insiders.

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.