Carronade Capital Management LP Has $90.24 Million Holdings in Talen Energy Corporation (NASDAQ:TLN)

Carronade Capital Management LP grew its holdings in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 12.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 447,886 shares of the utilities provider's stock after acquiring an additional 47,886 shares during the period. Talen Energy comprises 5.0% of Carronade Capital Management LP's holdings, making the stock its largest holding. Carronade Capital Management LP owned about 0.88% of Talen Energy worth $90,236,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wedbush Securities Inc. increased its holdings in shares of Talen Energy by 5.1% during the fourth quarter. Wedbush Securities Inc. now owns 1,261 shares of the utilities provider's stock valued at $254,000 after acquiring an additional 61 shares in the last quarter. Allworth Financial LP raised its holdings in Talen Energy by 170.6% during the fourth quarter. Allworth Financial LP now owns 184 shares of the utilities provider's stock worth $37,000 after buying an additional 116 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of Talen Energy in the fourth quarter valued at $37,000. Geneos Wealth Management Inc. acquired a new position in shares of Talen Energy during the fourth quarter valued at about $39,000. Finally, Empowered Funds LLC bought a new stake in shares of Talen Energy during the fourth quarter worth about $42,000. Institutional investors own 0.38% of the company's stock.

Talen Energy Stock Performance

Shares of TLN traded down $3.41 during mid-day trading on Wednesday, hitting $231.31. The stock had a trading volume of 1,386,130 shares, compared to its average volume of 1,106,965. Talen Energy Corporation has a 52 week low of $98.50 and a 52 week high of $258.03. The business has a fifty day moving average price of $202.15 and a 200-day moving average price of $209.13. The firm has a market cap of $10.53 billion, a P/E ratio of 12.38, a PEG ratio of 2.70 and a beta of 1.90. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37.

Analyst Ratings Changes

A number of analysts have commented on the company. Barclays decreased their price objective on Talen Energy from $293.00 to $282.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. Morgan Stanley began coverage on Talen Energy in a research note on Wednesday, March 12th. They set an "overweight" rating and a $243.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of Talen Energy from $295.00 to $265.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Evercore ISI initiated coverage on shares of Talen Energy in a report on Friday, February 21st. They set an "outperform" rating on the stock. Finally, UBS Group decreased their price objective on shares of Talen Energy from $275.00 to $259.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $240.18.

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.