Talen Energy Corporation $TLN Stock Holdings Increased by Sachem Head Capital Management LP

Sachem Head Capital Management LP boosted its stake in Talen Energy Corporation (NASDAQ:TLN) by 72.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,000,000 shares of the utilities provider’s stock after acquiring an additional 420,000 shares during the period. Talen Energy comprises approximately 8.8% of Sachem Head Capital Management LP’s investment portfolio, making the stock its 2nd largest position. Sachem Head Capital Management LP’s holdings in Talen Energy were worth $374,840,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new position in Talen Energy in the 4th quarter valued at about $27,000. Assetmark Inc. grew its position in 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 acquiring an additional 64 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Talen Energy in the 3rd quarter valued at about $34,000. Advisory Services Network LLC acquired a new position in Talen Energy in the 3rd quarter valued at about $35,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Talen Energy by 1,500.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 90 shares in the last quarter. 0.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TLN has been the subject of several research reports. BNP Paribas Exane initiated coverage on Talen Energy in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 target price for the company. Wells Fargo & Company lifted their target price on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $499.00 target price on shares of Talen Energy in a research report on Thursday, May 21st. Barclays lifted their target price on Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a research report on Monday, April 27th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $448.58.

Talen Energy Stock Performance

Shares of Talen Energy stock opened at $360.54 on Monday. Talen Energy Corporation has a one year low of $255.50 and a one year high of $451.28. The company has a market cap of $16.37 billion, a PE ratio of -538.11 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. The business has a 50-day simple moving average of $356.99 and a 200-day simple moving average of $358.18.

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).