Talen Energy Corporation $TLN Stock Position Decreased by Candelo Capital Management LP

Candelo Capital Management LP cut its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 49.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,900 shares of the utilities provider’s stock after selling 8,754 shares during the quarter. Talen Energy accounts for about 3.3% of Candelo Capital Management LP’s investment portfolio, making the stock its 19th largest holding. Candelo Capital Management LP’s holdings in Talen Energy were worth $3,786,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. MAI Capital Management boosted its holdings in shares of Talen Energy by 115.7% during the second quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 59 shares during the period. Grove Bank & Trust purchased a new stake in Talen Energy in the 3rd quarter worth approximately $32,000. Assetmark Inc. lifted its position in Talen Energy by 581.8% in the 3rd quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock worth $32,000 after buying an additional 64 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Talen Energy during the 3rd quarter valued at $34,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Talen Energy during the 3rd quarter valued at $48,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Stock Up 1.5%

Shares of NASDAQ TLN opened at $316.14 on Friday. Talen Energy Corporation has a 1 year low of $162.31 and a 1 year high of $451.28. The firm’s 50-day moving average is $360.32 and its 200-day moving average is $380.75. 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 $14.45 billion, a PE ratio of -64.00, a price-to-earnings-growth ratio of 0.45 and a beta of 1.94.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TLN shares. Weiss Ratings downgraded shares of Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. Morgan Stanley set a $474.00 target price on Talen Energy in a research note on Friday, February 20th. Barclays cut their price target on Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. Finally, Wells Fargo & Company lifted their price target on Talen Energy from $445.00 to $506.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Eleven research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $430.09.

About Talen Energy

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).