Steamboat Capital Partners LLC Raises Stock Holdings in Talen Energy Corporation $TLN

Key Points

• Steamboat Capital Partners LLC increased its stake in Talen Energy Corporation by 73.4%, now holding 16,987 shares worth approximately $3.39 million.
• Several institutional investors, including IFP Advisors Inc. and Signaturefd LLC, have significantly boosted their positions in Talen Energy, indicating increased market confidence.
• Analysts maintain a positive outlook on Talen Energy, with a consensus target price of $316.00 and multiple firms issuing buy ratings.

Steamboat Capital Partners LLC lifted its holdings in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 73.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,987 shares of the utilities provider's stock after purchasing an additional 7,189 shares during the quarter. Steamboat Capital Partners LLC's holdings in Talen Energy were worth $3,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Signaturefd LLC increased its position in 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 acquiring an additional 93 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Talen Energy during the first quarter valued at $25,000. Golden State Wealth Management LLC purchased a new stake in Talen Energy during the first quarter valued at $35,000. LRI Investments LLC increased its position in 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 acquiring an additional 111 shares during the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new stake in Talen Energy during the first quarter valued at $35,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Melius assumed coverage on Talen Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $427.00 price target for the company. Morgan Stanley lifted their price target on shares of Talen Energy from $300.00 to $330.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Oppenheimer set a $315.00 price target on shares of Talen Energy and gave the company an "outperform" rating in a report on Friday, July 11th. Susquehanna reaffirmed an "overweight" rating on shares of Talen Energy in a report on Thursday, June 12th. Finally, Melius Research initiated coverage on Talen Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $427.00 price objective for the company. Sixteen analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $316.00.

Talen Energy Price Performance

Shares of NASDAQ TLN traded up $2.68 during mid-day trading on Thursday, hitting $380.44. 518,186 shares of the company's stock traded hands, compared to its average volume of 1,190,576. The company's 50-day moving average is $338.64 and its two-hundred day moving average is $264.16. 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 company has a market capitalization of $17.38 billion, a P/E ratio of 107.77, a PEG ratio of 2.61 and a beta of 1.89. 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 posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.13) by $2.63. The business had revenue of $630.00 million during the quarter, compared to analyst estimates of $481.48 million. Talen Energy had a return on equity of 17.81% and a net margin of 8.75%. On average, equities analysts anticipate that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

Insider Activity at Talen Energy

In other 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 value of $52,695,120.00. Following the completion of the transaction, the insider owned 5,734,970 shares in the company, valued at approximately $1,697,780,518.80. The trade was a 3.01% 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. In the last three months, insiders sold 388,530 shares of company stock valued at $114,090,933. 0.18% of the stock is currently owned by insiders.

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.