Talen Energy Corporation $TLN is Carronade Capital Management LP’s Largest Position

Carronade Capital Management LP increased its position in Talen Energy Corporation (NASDAQ:TLN) by 3.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 560,743 shares of the utilities provider’s stock after acquiring an additional 18,000 shares during the period. Talen Energy comprises about 5.5% of Carronade Capital Management LP’s holdings, making the stock its biggest position. Carronade Capital Management LP’s holdings in Talen Energy were worth $238,529,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TLN. MAI Capital Management increased its position in 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 last quarter. Grove Bank & Trust acquired a new position in shares of Talen Energy in the 3rd quarter valued at $32,000. Assetmark Inc. boosted its holdings in shares of Talen Energy by 581.8% in the 3rd quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Neo Ivy Capital Management purchased 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 worth $48,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Analysts Set New Price Targets

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

Talen Energy Trading Up 1.5%

NASDAQ:TLN opened at $316.14 on Friday. The stock has a market cap of $14.44 billion, a price-to-earnings ratio of -64.00, a price-to-earnings-growth ratio of 0.45 and a beta of 1.94. Talen Energy Corporation has a one year low of $162.31 and a one year high of $451.28. The company has a debt-to-equity ratio of 6.20, a quick ratio of 1.02 and a current ratio of 1.28. The business’s 50-day simple moving average is $360.32 and its 200 day simple moving average is $380.75.

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).