Talen Energy Corporation (NASDAQ:TLN) Major Shareholder Rubric Capital Management Lp Sells 102,217 Shares

Talen Energy Corporation (NASDAQ:TLN - Get Free Report) major shareholder Rubric Capital Management Lp sold 102,217 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $291.98, for a total value of $29,845,319.66. Following the completion of the sale, the insider now directly owns 5,912,970 shares of the company's stock, valued at $1,726,468,980.60. This trade represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Rubric Capital Management Lp also recently made the following trade(s):

• On Friday, June 27th, Rubric Capital Management Lp sold 178,000 shares of Talen Energy stock. The shares were sold at an average price of $296.04, for a total transaction of $52,695,120.00.
• On Wednesday, June 25th, Rubric Capital Management Lp sold 108,313 shares of Talen Energy stock. The shares were sold at an average price of $291.29, for a total transaction of $31,550,493.77.

Talen Energy Stock Up 2.2%

Talen Energy stock traded up $6.50 during mid-day trading on Friday, reaching $297.88. 4,503,202 shares of the company's stock were exchanged, compared to its average volume of 1,094,351. 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 twelve month low of $98.50 and a twelve month high of $300.00. The company has a market cap of $13.56 billion, a P/E ratio of 65.33, a P/E/G ratio of 6.99 and a beta of 1.78. The company has a fifty day moving average of $246.10 and a 200-day moving average of $223.51.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.82 earnings per share for the quarter, missing analysts' consensus estimates of $1.17 by ($0.35). The company had revenue of $390.00 million for 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%. Sell-side analysts expect that Talen Energy Corporation will post 15.94 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on TLN. Susquehanna reissued an "overweight" rating on shares of Talen Energy in a research note on Thursday, June 12th. Barclays cut 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. Morgan Stanley began coverage on shares of Talen Energy in a research report on Wednesday, March 12th. They issued an "overweight" rating and a $243.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on shares of Talen Energy from $295.00 to $265.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Finally, Raymond James Financial assumed coverage on shares of Talen Energy in a research note on Friday, June 13th. They issued an "outperform" rating and a $314.00 price target on the stock. One investment analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $255.25.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Talen Energy by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider's stock valued at $964,302,000 after purchasing an additional 256,414 shares during the last quarter. Fred Alger Management LLC raised its holdings in shares of Talen Energy by 56.3% in the first quarter. Fred Alger Management LLC now owns 1,492,145 shares of the utilities provider's stock valued at $297,937,000 after buying an additional 537,398 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Talen Energy during the fourth quarter worth about $239,984,000. Lone Pine Capital LLC grew its holdings in shares of Talen Energy by 27.2% during the fourth quarter. Lone Pine Capital LLC now owns 1,089,380 shares of the utilities provider's stock worth $219,477,000 after buying an additional 233,165 shares during the last quarter. Finally, Invesco Ltd. increased its position in Talen Energy by 32.8% in the 4th quarter. Invesco Ltd. now owns 652,478 shares of the utilities provider's stock valued at $131,455,000 after acquiring an additional 161,269 shares during the period. Institutional investors and hedge funds own 0.38% of the company's stock.

About Talen Energy

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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