Engle Capital Management L.P. Trims Position in Talen Energy Corporation $TLN

Engle Capital Management L.P. trimmed its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 8.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,000 shares of the utilities provider’s stock after selling 7,338 shares during the quarter. Talen Energy accounts for about 11.1% of Engle Capital Management L.P.’s portfolio, making the stock its largest position. Engle Capital Management L.P.’s holdings in Talen Energy were worth $28,863,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TLN. State Street Corp grew its holdings in Talen Energy by 88.2% during the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after acquiring an additional 627,467 shares during the last quarter. Norges Bank bought a new stake in Talen Energy during the 4th quarter worth approximately $225,930,000. Invesco Ltd. grew its holdings in Talen Energy by 77.5% during the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock worth $452,189,000 after acquiring an additional 464,014 shares during the last quarter. Sachem Head Capital Management LP grew its holdings in Talen Energy by 72.4% during the 4th quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider’s stock worth $374,840,000 after acquiring an additional 420,000 shares during the last quarter. Finally, Deltroit Asset Management UK LLP bought a new stake in Talen Energy during the 4th quarter worth approximately $103,081,000. 0.38% of the stock is owned by institutional investors.

Insider Buying and Selling at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the transaction, the director directly owned 2,606 shares of the company’s stock, valued at approximately $990,280. This trade represents a 49.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.78% of the company’s stock.

Talen Energy Stock Performance

TLN stock opened at $409.81 on Thursday. The stock has a 50-day moving average price of $361.45 and a 200-day moving average price of $358.45. Talen Energy Corporation has a 1-year low of $255.50 and a 1-year high of $451.28. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. The firm has a market cap of $18.61 billion, a PE ratio of -611.65 and a beta of 1.80.

Analyst Upgrades and Downgrades

TLN has been the topic of a number of recent analyst reports. BNP Paribas Exane initiated coverage on Talen Energy in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price objective on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $499.00 price objective on shares of Talen Energy in a research note on Thursday, May 21st. Raymond James Financial reaffirmed an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a research note on Monday, April 27th. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $448.58.

Talen Energy Company Profile

Talen Energy Inc is an independent power producer that develops and operates a diversified portfolio of thermal and renewable generation facilities across the United States. The company supplies wholesale electricity and related services to utilities, large industrial customers, and power marketers, participating actively in regional markets such as PJM Interconnection and the Electric Reliability Council of Texas (ERCOT). Talen’s asset base comprises a mix of natural gas-fired, coal-fired and nuclear generation, supplemented by battery storage and other flexible resources designed to support the evolving needs of the grid.

Established in December 2015 through the combination of the competitive generation businesses previously held by two major utility groups, Talen Energy was structured as a standalone, publicly traded entity on the NASDAQ stock exchange (TLN).