MFN Partners Management LP Buys Shares of 3,000,000 Talen Energy Corporation $TLN

MFN Partners Management LP bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 3,000,000 shares of the utilities provider’s stock, valued at approximately $1,152,780,000,000. Talen Energy makes up about 23.8% of MFN Partners Management LP’s investment portfolio, making the stock its 2nd largest position. MFN Partners Management LP owned approximately 0.06% of Talen Energy at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in Talen Energy during the second quarter worth about $1,673,803,000. Fred Alger Management LLC increased its stake in Talen Energy by 8.4% in the 4th quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider’s stock valued at $676,247,000 after purchasing an additional 140,345 shares in the last quarter. Reaves W H & Co. Inc. raised its holdings in Talen Energy by 7.9% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock worth $570,393,000 after purchasing an additional 111,160 shares during the last quarter. Invesco Ltd. raised its holdings in Talen Energy by 35.6% during the fourth quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider’s stock worth $540,287,000 after purchasing an additional 378,357 shares during the last quarter. Finally, State Street Corp boosted its position in Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after purchasing an additional 627,467 shares in the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TLN. Jefferies Financial Group lowered their target price on Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a report on Monday, July 20th. Scotiabank lifted their price target on Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 15th. Barclays decreased their price objective on shares of Talen Energy from $411.00 to $408.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 28th. Wells Fargo & Company increased their price objective on shares of Talen Energy from $482.00 to $501.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Raymond James Financial restated an “outperform” rating and set a $457.00 target price on shares of Talen Energy in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $477.17.

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 shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the transaction, the director owned 2,606 shares of the company’s stock, valued at approximately $990,280. The trade was a 49.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.78% of the company’s stock.

Talen Energy Price Performance

Shares of NASDAQ:TLN opened at $314.46 on Friday. The company has a debt-to-equity ratio of 5.82, a quick ratio of 0.55 and a current ratio of 0.78. The business’s fifty day moving average price is $369.15 and its two-hundred day moving average price is $357.17. The stock has a market cap of $15.07 billion, a PE ratio of -75.41 and a beta of 1.90. Talen Energy Corporation has a one year low of $301.45 and a one year high of $451.28.

Talen Energy (NASDAQ:TLN) last released its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing analysts’ consensus estimates of $3.21 by ($5.21). Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%.The company had revenue of $747.00 million during the quarter, compared to analyst estimates of $832.81 million. On average, analysts forecast that Talen Energy Corporation will post 25.07 EPS for the current fiscal year.

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).