Engle Capital Management L.P. Lowers Stake in Talen Energy Corporation (NASDAQ:TLN)

Engle Capital Management L.P. cut its stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 36.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 160,000 shares of the utilities provider's stock after selling 91,638 shares during the period. Talen Energy makes up 9.7% of Engle Capital Management L.P.'s investment portfolio, making the stock its 2nd largest position. Engle Capital Management L.P. owned about 0.31% of Talen Energy worth $32,235,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. William Blair Investment Management LLC bought a new position in shares of Talen Energy during the fourth quarter worth about $239,984,000. Fred Alger Management LLC increased its holdings in shares of Talen Energy by 152.9% in the 4th quarter. Fred Alger Management LLC now owns 954,747 shares of the utilities provider's stock valued at $192,353,000 after purchasing an additional 577,257 shares during the period. Pictet Asset Management Holding SA acquired a new position in Talen Energy in the fourth quarter worth approximately $101,931,000. Clearbridge Investments LLC acquired a new position in Talen Energy in the fourth quarter worth approximately $88,065,000. Finally, Vanguard Group Inc. boosted its position in Talen Energy by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider's stock worth $964,302,000 after purchasing an additional 256,414 shares during the period. 0.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TLN shares. Barclays reduced their price objective on Talen Energy from $293.00 to $282.00 and set an "overweight" rating for the company in a research report on Tuesday, March 4th. Daiwa Capital Markets set a $200.00 price objective on Talen Energy in a research note on Wednesday, March 5th. Morgan Stanley initiated coverage on Talen Energy in a research note on Wednesday, March 12th. They set an "overweight" rating and a $243.00 price objective for the company. Bank of America began coverage on Talen Energy in a research note on Monday, February 3rd. They issued a "buy" rating and a $253.00 target price for the company. Finally, UBS Group lowered their price objective on Talen Energy from $275.00 to $259.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $240.18.

Talen Energy Trading Up 5.1%

NASDAQ TLN traded up $11.46 during trading hours on Monday, hitting $236.62. 1,397,110 shares of the company's stock were exchanged, compared to its average volume of 1,107,441. The stock has a 50-day simple moving average of $204.34 and a 200 day simple moving average of $210.58. Talen Energy Corporation has a 1-year low of $98.50 and a 1-year high of $258.03. The firm has a market cap of $10.77 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 2.70 and a beta of 1.90. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07.

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.