Clearfield Capital Management LP Has $19.36 Million Stake in Talen Energy Corporation $TLN

Clearfield Capital Management LP raised its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 34.2% in the third quarter, Holdings Channel reports. The institutional investor owned 45,500 shares of the utilities provider’s stock after buying an additional 11,600 shares during the quarter. Talen Energy accounts for about 11.6% of Clearfield Capital Management LP’s holdings, making the stock its 2nd biggest position. Clearfield Capital Management LP’s holdings in Talen Energy were worth $19,355,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TLN. Norges Bank purchased a new stake in shares of Talen Energy in the second quarter worth $168,188,000. Invesco Ltd. increased its holdings in shares of Talen Energy by 77.5% during the third quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock valued at $452,189,000 after acquiring an additional 464,014 shares in the last quarter. State Street Corp raised its position in shares of Talen Energy by 151.0% in the 2nd quarter. State Street Corp now owns 711,231 shares of the utilities provider’s stock worth $206,805,000 after purchasing an additional 427,910 shares during the last quarter. Third Point LLC raised its position in shares of Talen Energy by 34.2% in the 2nd quarter. Third Point LLC now owns 785,000 shares of the utilities provider’s stock worth $228,254,000 after purchasing an additional 200,000 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Talen Energy by 179.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 264,091 shares of the utilities provider’s stock worth $76,790,000 after purchasing an additional 169,734 shares in the last quarter. 0.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Talen Energy Stock Up 1.5%

Shares of Talen Energy stock opened at $316.14 on Friday. Talen Energy Corporation has a twelve month low of $162.31 and a twelve month high of $451.28. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 6.20. The company’s 50 day moving average is $360.32 and its 200 day moving average is $380.75. The company has a market cap of $14.45 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 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).