Bornite Capital Management LP Has $60.52 Million Position in Talen Energy Corporation $TLN

Bornite Capital Management LP reduced its position in Talen Energy Corporation (NASDAQ:TLN) by 24.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 157,500 shares of the utilities provider’s stock after selling 51,300 shares during the period. Talen Energy comprises approximately 7.6% of Bornite Capital Management LP’s holdings, making the stock its largest position. Bornite Capital Management LP’s holdings in Talen Energy were worth $60,521,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TLN. BlackRock Inc. bought a new stake in shares of Talen Energy in the 2nd quarter worth $1,673,803,000. MFN Partners Management LP bought a new position in shares of Talen Energy during the second quarter valued at $1,152,780,000. Fred Alger Management LLC lifted its holdings in shares of Talen Energy by 8.4% during the fourth 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. boosted its position in shares of 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 valued at $570,393,000 after buying an additional 111,160 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Talen Energy by 35.6% during the fourth quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider’s stock valued at $540,287,000 after buying an additional 378,357 shares during the last quarter. 0.38% of the stock is owned by institutional investors.

Talen Energy Stock Performance

TLN stock opened at $293.73 on Wednesday. The company has a debt-to-equity ratio of 5.82, a current ratio of 0.78 and a quick ratio of 0.55. Talen Energy Corporation has a 1 year low of $288.58 and a 1 year high of $451.28. The company has a market cap of $14.07 billion, a P/E ratio of -70.44 and a beta of 1.85. The stock’s fifty day moving average price is $352.84 and its 200-day moving average price is $355.28.

Talen Energy (NASDAQ:TLN) last posted its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) EPS for the quarter, missing analysts’ consensus estimates of $3.21 by ($5.21). Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. The firm had revenue of $747.00 million for the quarter, compared to analysts’ expectations of $832.81 million. On average, equities analysts forecast that Talen Energy Corporation will post 21.99 earnings per share for the current year.

Wall Street Analyst Weigh In

TLN has been the subject of a number of recent analyst reports. BNP Paribas Exane reissued an “outperform” rating and issued a $560.00 target price on shares of Talen Energy in a research report on Wednesday, August 19th. Wall Street Zen downgraded shares of Talen Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Zacks Research lowered shares of Talen Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Jefferies Financial Group decreased their price objective on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a report on Monday, July 20th. Finally, Scotiabank increased their price objective on shares of Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 15th. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $466.86.

Insider Activity

In other news, Director Gizman I. Abbas sold 2,600 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the sale, the director owned 2,606 shares of the company’s stock, valued at $990,280. This represents a 49.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.78% of the stock is currently owned by corporate insiders.

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).