Talen Energy Corporation (NASDAQ:TLN) Position Reduced by Bornite Capital Management LP

Key Points

• Bornite Capital Management LP reduced its position in Talen Energy Corporation by 2.6%, now holding 204,700 shares, making it the largest position in their investment portfolio.
• Several hedge funds significantly increased their stakes in Talen Energy during the fourth quarter, with Wells Fargo increasing its stake by 500.6%.
• Talen Energy reported a quarterly earnings per share of $1.50, exceeding the consensus estimate of ($1.13), along with revenue of $630 million against an estimate of $481.48 million.

Bornite Capital Management LP lowered its position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 2.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 204,700 shares of the utilities provider's stock after selling 5,400 shares during the period. Talen Energy makes up about 10.5% of Bornite Capital Management LP's investment portfolio, making the stock its largest position. Bornite Capital Management LP owned approximately 0.45% of Talen Energy worth $40,872,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN increased its stake in shares of Talen Energy by 500.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,925 shares of the utilities provider's stock worth $589,000 after buying an additional 2,438 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Talen Energy by 113.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 19,806 shares of the utilities provider's stock worth $3,990,000 after buying an additional 10,522 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Talen Energy by 68.0% in the fourth quarter. Russell Investments Group Ltd. now owns 9,955 shares of the utilities provider's stock worth $2,006,000 after purchasing an additional 4,029 shares during the period. Bank of Montreal Can acquired a new position in Talen Energy in the fourth quarter worth $1,224,000. Finally, Invesco Ltd. boosted its holdings in Talen Energy by 32.8% in the fourth quarter. Invesco Ltd. now owns 652,478 shares of the utilities provider's stock worth $131,455,000 after purchasing an additional 161,269 shares during the period. Hedge funds and other institutional investors own 0.38% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on TLN shares. Oppenheimer set a $315.00 price objective on shares of Talen Energy and gave the stock 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. Barclays lifted their price objective on shares of Talen Energy from $269.00 to $359.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Wall Street Zen downgraded shares of Talen Energy from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Finally, UBS Group set a $431.00 price target on shares of Talen Energy and gave the company a "buy" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Talen Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $292.58.

Talen Energy Stock Performance

TLN stock opened at $374.68 on Friday. The company has a market capitalization of $17.05 billion, a P/E ratio of 106.14, a PEG ratio of 3.12 and a beta of 1.90. The company has a 50-day simple moving average of $302.73 and a 200 day simple moving average of $246.52. Talen Energy Corporation has a fifty-two week low of $113.41 and a fifty-two week high of $394.07. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 2.52.

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 for the quarter, topping the consensus estimate of ($1.13) by $2.63. The business had revenue of $630.00 million during the quarter, compared to the consensus estimate of $481.48 million. Talen Energy had a net margin of 8.75% and a return on equity of 16.68%. Sell-side analysts predict that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $296.04, for a total value of $52,695,120.00. Following the completion of the sale, the insider owned 5,734,970 shares of the company's stock, valued at $1,697,780,518.80. This represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 388,530 shares of company stock valued at $114,090,933 over the last three months. Corporate insiders own 0.18% of the company's stock.

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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