Talen Energy Corporation $TLN Shares Acquired by Carronade Capital Management LP

Carronade Capital Management LP boosted its stake in Talen Energy Corporation (NASDAQ:TLN) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 560,743 shares of the utilities provider’s stock after acquiring an additional 18,000 shares during the period. Talen Energy comprises approximately 5.5% of Carronade Capital Management LP’s portfolio, making the stock its largest position. Carronade Capital Management LP owned approximately 1.23% of Talen Energy worth $238,529,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Amundi purchased a new stake in Talen Energy in the first quarter valued at approximately $299,000. AQR Capital Management LLC purchased a new position in shares of Talen Energy during the first quarter worth approximately $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Talen Energy by 11.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock valued at $1,454,000 after acquiring an additional 761 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Talen Energy by 17,400.0% in the 1st quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock valued at $175,000 after acquiring an additional 870 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Talen Energy by 15.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock valued at $9,794,000 after purchasing an additional 6,498 shares during the last quarter. Institutional investors and hedge funds own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TLN. Barclays decreased their target price on shares of Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. Morgan Stanley set a $474.00 price objective on Talen Energy in a research note on Friday, February 20th. Wells Fargo & Company increased their price objective on Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings downgraded Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $430.09.

Talen Energy Trading Up 1.5%

Shares of TLN opened at $316.14 on Friday. Talen Energy Corporation has a twelve month low of $162.31 and a twelve month high of $451.28. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 6.20. The firm has a market capitalization of $14.44 billion, a P/E ratio of -64.00, a PEG ratio of 0.45 and a beta of 1.94. The firm’s 50-day moving average is $360.32 and its two-hundred day moving average is $380.75.

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).