Two Creeks Capital Management LP Sells 192,072 Shares of Talen Energy Corporation $TLN

Two Creeks Capital Management LP lowered its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 57.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 144,813 shares of the utilities provider’s stock after selling 192,072 shares during the quarter. Talen Energy comprises approximately 4.4% of Two Creeks Capital Management LP’s investment portfolio, making the stock its 8th largest position. Two Creeks Capital Management LP’s holdings in Talen Energy were worth $61,601,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TLN. Grove Bank & Trust acquired a new position in shares of Talen Energy in the 3rd quarter valued at $32,000. Assetmark Inc. lifted its holdings in Talen Energy by 581.8% during the third quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 64 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Talen Energy in the third quarter valued at about $34,000. MAI Capital Management grew its stake in Talen Energy by 115.7% in the second quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 59 shares during the period. Finally, Optiver Holding B.V. bought a new stake in shares of Talen Energy in the third quarter worth about $48,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TLN. Barclays decreased their price objective on Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. Wells Fargo & Company lifted their price target on shares of 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 cut shares of Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, February 27th. Finally, Morgan Stanley set a $474.00 price objective on shares of Talen Energy in a research report on Friday, February 20th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $430.09.

Talen Energy Price Performance

Shares of TLN opened at $316.14 on Friday. The company has a market cap of $14.44 billion, a price-to-earnings ratio of -64.00, a PEG ratio of 0.45 and a beta of 1.94. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 6.20. The company’s fifty day simple moving average is $360.32 and its 200 day simple moving average is $380.74. Talen Energy Corporation has a 1-year low of $162.31 and a 1-year high of $451.28.

About Talen Energy

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).