Talen Energy Corporation $TLN Stake Lessened by Bornite Capital Management LP

Key Points

• Bornite Capital Management cut its Talen Energy stake by 24.6% in the second quarter, selling 51,300 shares and retaining 157,500 shares valued at approximately $60.5 million.
• Analyst sentiment remains broadly positive, with Talen holding a “Moderate Buy” consensus rating and an average price target of $466.86, although some firms recently downgraded the stock or reduced their targets.
• Talen shares opened at $293.73, near their 12-month low, after the company missed quarterly earnings and revenue estimates, reporting a $2.00 loss per share versus expectations for $3.21 in earnings.

Bornite Capital Management LP reduced its stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 24.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,500 shares of the utilities provider's stock after selling 51,300 shares during the period. Talen Energy accounts for 7.6% of Bornite Capital Management LP's portfolio, making the stock its largest position. Bornite Capital Management LP owned approximately 0.33% of Talen Energy worth $60,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. bought a new stake in Talen Energy during the 2nd quarter valued at approximately $1,673,803,000. MFN Partners Management LP bought a new position in shares of Talen Energy in the 2nd quarter worth approximately $1,152,780,000. State Street Corp raised its position in shares of Talen Energy by 88.2% in the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider's stock worth $569,455,000 after acquiring an additional 627,467 shares in the last quarter. Norges Bank purchased a new position in shares of Talen Energy in the 4th quarter valued at approximately $225,930,000. Finally, Two Seas Capital LP purchased a new position in shares of Talen Energy in the 2nd quarter valued at approximately $194,900,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Zacks Research cut Talen Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 27th. Jefferies Financial Group lowered their price objective on Talen Energy from $453.00 to $422.00 and set a "hold" rating for the company in a research report on Monday, July 20th. Weiss Ratings lowered Talen Energy from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 18th. BNP Paribas Exane restated an "outperform" rating and set a $560.00 target price on shares of Talen Energy in a report on Wednesday, August 19th. Finally, Mizuho assumed coverage on shares of Talen Energy in a research report on Monday, August 24th. They issued an "outperform" rating and a $405.00 target price on the stock. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $466.86.

Talen Energy Stock Down 0.7%

TLN stock opened at $293.73 on Wednesday. Talen Energy Corporation has a twelve month low of $288.58 and a twelve month high of $451.28. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82. The firm has a market cap of $14.07 billion, a PE ratio of -70.44 and a beta of 1.85. The business has a 50 day moving average of $352.84 and a 200 day moving average of $355.28.

Talen Energy (NASDAQ:TLN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.21 by ($5.21). Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. The company had revenue of $747.00 million for the quarter, compared to analysts' expectations of $832.81 million. On average, research analysts forecast that Talen Energy Corporation will post 21.99 EPS for the current fiscal year.

Insider Buying and Selling at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the transaction, the director owned 2,606 shares of the company's stock, valued at $990,280. The trade was a 49.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is owned by insiders.

About Talen Energy

Talen Energy Inc is an independent power producer that develops and operates a diversified portfolio of thermal and renewable generation facilities across the United States. The company supplies wholesale electricity and related services to utilities, large industrial customers, and power marketers, participating actively in regional markets such as PJM Interconnection and the Electric Reliability Council of Texas (ERCOT). Talen's asset base comprises a mix of natural gas-fired, coal-fired and nuclear generation, supplemented by battery storage and other flexible resources designed to support the evolving needs of the grid.

Established in December 2015 through the combination of the competitive generation businesses previously held by two major utility groups, Talen Energy was structured as a standalone, publicly traded entity on the NASDAQ stock exchange (TLN).

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