Blue Grotto Capital LLC Takes Position in Talen Energy Corporation $TLN

Blue Grotto Capital LLC acquired a new stake in shares of Talen Energy Corporation (NASDAQ:TLN) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 160,163 shares of the utilities provider’s stock, valued at approximately $60,035,000. Talen Energy accounts for about 6.2% of Blue Grotto Capital LLC’s investment portfolio, making the stock its 4th biggest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TLN. State Street Corp lifted its holdings in shares of Talen Energy by 88.2% during the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after purchasing an additional 627,467 shares during the last quarter. Norges Bank purchased a new stake in shares of Talen Energy during the 4th quarter valued at $225,930,000. Invesco Ltd. lifted its holdings in shares of Talen Energy by 77.5% during the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock valued at $452,189,000 after purchasing an additional 464,014 shares during the last quarter. Sachem Head Capital Management LP lifted its holdings in shares of Talen Energy by 72.4% during the 4th quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider’s stock valued at $374,840,000 after purchasing an additional 420,000 shares during the last quarter. Finally, Deltroit Asset Management UK LLP purchased a new stake in shares of Talen Energy during the 4th quarter valued at $103,081,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on TLN. Wells Fargo & Company increased their price objective on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. decreased their price objective on Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a report on Thursday, March 19th. BNP Paribas Exane began coverage on Talen Energy in a report on Wednesday, March 18th. They set an “outperform” rating and a $548.00 price objective for the company. Finally, Raymond James Financial reiterated an “outperform” rating and set a $457.00 price objective on shares of Talen Energy in a report on Monday, April 27th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $448.58.

Talen Energy Price Performance

Shares of TLN opened at $386.21 on Tuesday. The business’s 50-day moving average is $358.16 and its two-hundred day moving average is $358.23. The company has a market capitalization of $17.53 billion, a P/E ratio of -576.42 and a beta of 1.81. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. Talen Energy Corporation has a fifty-two week low of $255.50 and a fifty-two week high of $451.28.

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).