Moore Capital Management LP Cuts Stock Holdings in Talen Energy Corporation $TLN

Moore Capital Management LP decreased its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 46.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,389 shares of the utilities provider’s stock after selling 44,539 shares during the period. Moore Capital Management LP owned about 0.11% of Talen Energy worth $18,888,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. American Century Companies Inc. lifted its holdings in Talen Energy by 1.6% during the third quarter. American Century Companies Inc. now owns 342,914 shares of the utilities provider’s stock worth $145,870,000 after acquiring an additional 5,389 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 during the period. Victory Capital Management Inc. lifted its holdings in Talen Energy by 157.0% during the third quarter. Victory Capital Management Inc. now owns 111,104 shares of the utilities provider’s stock worth $47,261,000 after acquiring an additional 67,881 shares during the period. South Dakota Investment Council bought a new stake in Talen Energy during the third quarter worth $1,489,000. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Talen Energy by 11.8% during the fourth 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 period. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Insider Buying and Selling

In related news, Director Gizman I. Abbas sold 2,600 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the transaction, the director directly owned 2,606 shares in the company, valued at $990,280. The trade was a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.78% of the stock is currently owned by insiders.

Talen Energy Price Performance

Talen Energy stock opened at $409.81 on Thursday. Talen Energy Corporation has a 52 week low of $255.50 and a 52 week high of $451.28. The business has a 50-day simple moving average of $361.45 and a 200 day simple moving average of $358.45. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32. The stock has a market cap of $18.61 billion, a price-to-earnings 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. Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Barclays boosted their target price on Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Morgan Stanley restated an “overweight” rating and issued a $499.00 target price on shares of Talen Energy in a research note on Thursday, May 21st. The Goldman Sachs Group initiated coverage on Talen Energy in a research note on Thursday. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company boosted their target price on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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).