Carronade Capital Management LP Has $205.74 Million Holdings in Talen Energy Corporation $TLN

Carronade Capital Management LP lifted its position in Talen Energy Corporation (NASDAQ:TLN) by 11.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 644,484 shares of the utilities provider’s stock after purchasing an additional 67,245 shares during the quarter. Talen Energy accounts for about 2.7% of Carronade Capital Management LP’s holdings, making the stock its 2nd largest holding. Carronade Capital Management LP’s holdings in Talen Energy were worth $205,739,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Talen Energy by 1,526.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,054 shares of the utilities provider’s stock worth $9,766,000 after acquiring an additional 24,452 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Talen Energy by 11.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 45,250 shares of the utilities provider’s stock worth $16,962,000 after acquiring an additional 4,770 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Talen Energy by 400.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 14,105 shares of the utilities provider’s stock valued at $5,287,000 after purchasing an additional 11,287 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Talen Energy by 116.8% in the 4th quarter. Sanctuary Advisors LLC now owns 6,454 shares of the utilities provider’s stock valued at $2,419,000 after purchasing an additional 3,477 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Talen Energy during the 4th quarter valued at $50,324,000. 0.38% of the stock is currently owned by institutional investors.

Talen Energy Price Performance

TLN stock opened at $359.90 on Monday. The firm’s 50-day moving average price is $379.23 and its two-hundred day moving average price is $361.58. Talen Energy Corporation has a 12-month low of $301.45 and a 12-month high of $451.28. The stock has a market capitalization of $17.24 billion, a price-to-earnings ratio of -537.16 and a beta of 1.82. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32.

Analyst Upgrades and Downgrades

TLN has been the topic of a number of analyst reports. Jefferies Financial Group decreased their target price on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Barclays upped their price target on shares of Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Wells Fargo & Company raised their price objective on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Raymond James Financial reiterated an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a report on Monday, April 27th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $508.00 target price on shares of Talen Energy in a research note on Wednesday, June 24th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $476.27.

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 that occurred on Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the sale, the director directly owned 2,606 shares in the company, valued at approximately $990,280. This trade represents a 49.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.78% of the company’s stock.

Talen Energy 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).