Talen Energy Corporation $TLN Shares Sold by Concentric Capital Strategies LP

Concentric Capital Strategies LP reduced its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 34.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,122 shares of the utilities provider’s stock after selling 8,100 shares during the quarter. Concentric Capital Strategies LP’s holdings in Talen Energy were worth $5,668,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Aventail Capital Group LP increased its position in Talen Energy by 2.1% in the 4th quarter. Aventail Capital Group LP now owns 52,586 shares of the utilities provider’s stock valued at $19,711,000 after acquiring an additional 1,097 shares during the period. Apis Capital Advisors LLC boosted its position in Talen Energy by 14.1% during the 4th quarter. Apis Capital Advisors LLC now owns 87,200 shares of the utilities provider’s stock worth $32,686,000 after acquiring an additional 10,800 shares during the period. Freestone Grove Partners LP grew its stake in shares of Talen Energy by 7,206.6% in the fourth quarter. Freestone Grove Partners LP now owns 48,954 shares of the utilities provider’s stock worth $18,350,000 after purchasing an additional 48,284 shares in the last quarter. Guggenheim Capital LLC increased its holdings in shares of Talen Energy by 102.0% during the fourth quarter. Guggenheim Capital LLC now owns 6,057 shares of the utilities provider’s stock valued at $2,270,000 after purchasing an additional 3,059 shares during the period. Finally, Fund 1 Investments LLC acquired a new position in shares of Talen Energy during the fourth quarter valued at $6,935,000. 0.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TLN has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Raymond James Financial restated an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a research report on Monday, April 27th. JPMorgan Chase & Co. lowered their price target on Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. 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. Finally, Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $448.58.

Insider Buying and Selling

In other news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the transaction, the director owned 2,606 shares in the company, valued at $990,280. This represents a 49.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.78% of the company’s stock.

Talen Energy Stock Up 0.8%

Shares of Talen Energy stock opened at $409.81 on Thursday. Talen Energy Corporation has a 1 year low of $255.50 and a 1 year high of $451.28. The company has a market cap of $18.61 billion, a P/E ratio of -611.65 and a beta of 1.80. 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 stock has a 50-day moving average price of $361.45 and a 200 day moving average price of $358.45.

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).