Bornite Capital Management LP Has $77.22 Million Stake in Talen Energy Corporation $TLN

Bornite Capital Management LP boosted its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 32.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 206,000 shares of the utilities provider’s stock after acquiring an additional 50,000 shares during the quarter. Talen Energy accounts for approximately 7.5% of Bornite Capital Management LP’s portfolio, making the stock its largest position. Bornite Capital Management LP’s holdings in Talen Energy were worth $77,217,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. increased its position 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 buying an additional 5,389 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position 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 buying an additional 24,452 shares during the last quarter. GF Fund Management CO. LTD. increased its position in Talen Energy by 76.5% during the third quarter. GF Fund Management CO. LTD. now owns 64,256 shares of the utilities provider’s stock worth $27,333,000 after buying an additional 27,858 shares during the last quarter. Victory Capital Management Inc. increased its position 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 buying an additional 67,881 shares during the last quarter. Finally, South Dakota Investment Council acquired a new position in Talen Energy during the third quarter worth approximately $1,489,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Stock Performance

NASDAQ TLN opened at $360.54 on Friday. The firm has a 50-day moving average of $356.99 and a 200-day moving average of $358.33. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. The stock has a market cap of $16.37 billion, a PE ratio of -538.11 and a beta of 1.80. Talen Energy Corporation has a 52-week low of $255.50 and a 52-week high of $451.28.

Analyst Upgrades and Downgrades

TLN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. BNP Paribas Exane initiated coverage on shares of Talen Energy in a research note on Wednesday, March 18th. They set an “outperform” rating and a $548.00 target price for the company. Barclays raised their target price on shares of Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 19th. Wells Fargo & Company raised their target price on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley restated an “overweight” rating and set a $499.00 target price on shares of Talen Energy in a research note on Thursday, May 21st. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $448.58.

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).