Westfield Capital Management Co. LP Reduces Stock Holdings in Talen Energy Corporation (NASDAQ:TLN)

Key Points

• Westfield Capital Management Co. LP reduced its stake in Talen Energy Corporation by 25.3%, ending the quarter with approximately 0.50% ownership valued at $45.86 million.
• Major shareholder Rubric Capital Management sold 178,000 shares for over $52 million, resulting in a 3.01% decrease in their position.
• Analysts have mixed ratings on Talen Energy with target prices ranging from $292.58 to as high as $431.00, reflecting a general sentiment of a "Moderate Buy."

Westfield Capital Management Co. LP cut its stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 25.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 229,674 shares of the utilities provider's stock after selling 77,823 shares during the period. Westfield Capital Management Co. LP owned about 0.50% of Talen Energy worth $45,859,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. purchased a new stake in Talen Energy in the first quarter worth about $3,185,000. US Bancorp DE raised its holdings in shares of Talen Energy by 263,416.1% in the 1st quarter. US Bancorp DE now owns 81,690 shares of the utilities provider's stock valued at $16,311,000 after purchasing an additional 81,659 shares in the last quarter. Thornburg Investment Management Inc. lifted its position in shares of Talen Energy by 15.1% in the 1st quarter. Thornburg Investment Management Inc. now owns 45,143 shares of the utilities provider's stock worth $9,014,000 after purchasing an additional 5,917 shares during the period. XTX Topco Ltd bought a new position in shares of Talen Energy during the first quarter valued at approximately $2,903,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Talen Energy during the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

TLN has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price objective on shares of Talen Energy from $326.00 to $380.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Barclays boosted their price target on Talen Energy from $269.00 to $359.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Oppenheimer set a $315.00 price objective on Talen Energy and gave the company an "outperform" rating in a research report on Friday, July 11th. Morgan Stanley boosted their target price on shares of Talen Energy from $300.00 to $330.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, Raymond James Financial started coverage on shares of Talen Energy in a research report on Friday, June 13th. They set an "outperform" rating and a $314.00 price target for the company. One analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $292.58.

Insider Activity

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of Talen Energy stock in a transaction dated 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 sale, the insider owned 5,734,970 shares of the company's stock, valued at approximately $1,697,780,518.80. The trade was a 3.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 corporate insiders.

Talen Energy Stock Performance

Shares of Talen Energy stock traded down $0.90 during midday trading on Friday, hitting $374.68. The company had a trading volume of 619,816 shares, compared to its average volume of 1,188,511. The company has a fifty day simple moving average of $300.10 and a 200 day simple moving average of $245.64. The stock has a market cap of $17.05 billion, a price-to-earnings ratio of 38.91, a PEG ratio of 3.15 and a beta of 1.90. 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 Corporation has a 12-month low of $113.41 and a 12-month high of $394.07.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.13) by $2.63. Talen Energy had a net margin of 28.51% and a return on equity of 11.47%. The business had revenue of $630.00 million during the quarter, compared to analysts' expectations of $481.48 million. As a group, analysts predict that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.

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.