SPX Gestao de Recursos Ltda Cuts Stock Position in Talen Energy Corporation $TLN

SPX Gestao de Recursos Ltda lessened its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 21.1% in the 1st quarter, HoldingsChannel reports. The fund owned 7,490 shares of the utilities provider’s stock after selling 2,000 shares during the period. SPX Gestao de Recursos Ltda’s holdings in Talen Energy were worth $2,391,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TLN. Flagship Harbor Advisors LLC purchased a new position in shares of Talen Energy in the 4th quarter valued at approximately $27,000. Advisory Services Network LLC acquired a new position in Talen Energy during the 3rd quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Talen Energy by 1,500.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after buying an additional 90 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Talen Energy during the fourth quarter worth $39,000. Finally, Bessemer Group Inc. lifted its stake in shares of Talen Energy by 404.0% during the first quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock worth $41,000 after buying an additional 101 shares during the period. 0.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the business’s 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 completion of the transaction, the director directly owned 2,606 shares of the company’s stock, valued at approximately $990,280. The trade was a 49.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.78% of the company’s stock.

Talen Energy Price Performance

NASDAQ:TLN opened at $372.37 on Friday. The firm’s fifty day moving average is $378.30 and its two-hundred day moving average is $362.26. The firm has a market cap of $17.83 billion, a price-to-earnings ratio of -555.77 and a beta of 1.82. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. Talen Energy Corporation has a one year low of $300.00 and a one year high of $451.28.

Analyst Ratings Changes

Several research firms recently issued reports on TLN. Barclays upped their target price on Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. The Goldman Sachs Group began coverage on Talen Energy in a research note on Thursday, June 18th. They set a “buy” rating and a $499.00 price target on the stock. Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Morgan Stanley restated an “overweight” rating and issued a $508.00 price objective on shares of Talen Energy in a research note on Wednesday, June 24th. Finally, Wells Fargo & Company lifted their target price on Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $475.08.

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).