Covey Capital Advisors LLC Sells 55 Shares of Talen Energy Corporation $TLN

Covey Capital Advisors LLC cut its holdings in Talen Energy Corporation (NASDAQ:TLN) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,517 shares of the utilities provider’s stock after selling 55 shares during the period. Covey Capital Advisors LLC’s holdings in Talen Energy were worth $732,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TLN. Third Point LLC bought a new position in shares of Talen Energy in the 1st quarter valued at about $116,807,000. Fred Alger Management LLC raised its position in Talen Energy by 56.3% during 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 purchasing an additional 537,398 shares during the period. PointState Capital LP bought a new stake in shares of Talen Energy in the 1st quarter valued at approximately $75,148,000. Assenagon Asset Management S.A. bought a new stake in shares of Talen Energy in the 2nd quarter valued at approximately $91,239,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Talen Energy by 6,621.1% in the 1st quarter. Ameriprise Financial Inc. now owns 303,661 shares of the utilities provider’s stock worth $60,638,000 after purchasing an additional 299,143 shares during the period. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TLN has been the subject of a number of analyst reports. Morgan Stanley lowered their price target on Talen Energy from $442.00 to $441.00 and set an “overweight” rating for the company in a research report on Tuesday. Melius initiated coverage on shares of Talen Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $427.00 target price on the stock. UBS Group set a $431.00 price target on shares of Talen Energy and gave the stock a “buy” rating in a research note on Friday, July 25th. Oppenheimer set a $315.00 price target on shares of Talen Energy and gave the company an “outperform” rating in a report on Friday, July 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Talen Energy in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $395.64.

Talen Energy Trading Down 1.7%

TLN stock opened at $391.82 on Friday. Talen Energy Corporation has a 12 month low of $158.08 and a 12 month high of $451.28. The firm’s 50-day moving average is $404.60 and its 200 day moving average is $323.71. The company has a market capitalization of $17.90 billion, a PE ratio of 111.00, a P/E/G ratio of 2.08 and a beta of 1.88. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.84 and a quick ratio of 1.34.

Talen Energy (NASDAQ:TLN) last issued its earnings results on Thursday, August 7th. The utilities provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of ($1.13) by $2.63. The business had revenue of $630.00 million for the quarter, compared to the consensus estimate of $481.48 million. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. On average, research analysts anticipate that Talen Energy Corporation will post 15.94 EPS for the current 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.