Covey Capital Advisors LLC reduced its position in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 39.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,572 shares of the utilities provider's stock after selling 1,647 shares during the period. Covey Capital Advisors LLC's holdings in Talen Energy were worth $514,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. William Blair Investment Management LLC bought a new position in Talen Energy during the 4th quarter valued at $239,984,000. Fred Alger Management LLC lifted its stake in Talen Energy by 152.9% during the 4th quarter. Fred Alger Management LLC now owns 954,747 shares of the utilities provider's stock valued at $192,353,000 after acquiring an additional 577,257 shares in the last quarter. Pictet Asset Management Holding SA bought a new position in Talen Energy during the 4th quarter valued at $101,931,000. Clearbridge Investments LLC bought a new position in Talen Energy during the 4th quarter valued at $88,065,000. Finally, Vanguard Group Inc. lifted its stake in Talen Energy by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider's stock valued at $964,302,000 after acquiring an additional 256,414 shares in the last quarter. 0.38% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
TLN has been the topic of several recent analyst reports. Raymond James Financial initiated coverage on Talen Energy in a research note on Friday, June 13th. They set an "outperform" rating and a $314.00 price objective on the stock. Susquehanna reaffirmed an "overweight" rating on shares of Talen Energy in a research report on Thursday, June 12th. Wall Street Zen raised Talen Energy from a "sell" rating to a "hold" rating in a research report on Monday, June 30th. UBS Group raised their target price on Talen Energy from $296.00 to $366.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Finally, JPMorgan Chase & Co. decreased their target price on Talen Energy from $295.00 to $265.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $260.67.
Check Out Our Latest Analysis on Talen Energy
Insider Buying and Selling
In other Talen Energy 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 transaction, the insider directly owned 5,734,970 shares of the company's stock, valued at $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 is available at the SEC website. Over the last 90 days, insiders sold 388,530 shares of company stock valued at $114,090,933. 0.18% of the stock is owned by insiders.
Talen Energy Trading Up 3.2%
Talen Energy stock traded up $8.55 during trading hours on Friday, reaching $276.17. The company had a trading volume of 1,018,693 shares, compared to its average volume of 1,087,499. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.62 and a quick ratio of 1.20. The company has a 50-day moving average price of $262.04 and a 200 day moving average price of $229.65. The firm has a market cap of $12.57 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 6.62 and a beta of 1.85. Talen Energy Corporation has a 12-month low of $98.50 and a 12-month high of $301.70.
Talen Energy (NASDAQ:TLN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $1.17 by ($0.35). The company had revenue of $390.00 million during the quarter, compared to analysts' expectations of $556.93 million. Talen Energy had a return on equity of 11.47% and a net margin of 28.51%. Equities analysts forecast that Talen Energy Corporation will post 15.94 earnings per share for the current year.
Talen Energy Company Profile
(
Free Report)
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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