Two Seas Capital LP Makes New Investment in Talen Energy Corporation $TLN

Two Seas Capital LP purchased a new position in Talen Energy Corporation (NASDAQ:TLN) in the 2nd quarter, Holdings Channel reports. The firm purchased 507,208 shares of the utilities provider’s stock, valued at approximately $194,900,000. Talen Energy accounts for about 3.9% of Two Seas Capital LP’s portfolio, making the stock its 5th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TLN. Clear Harbor Asset Management LLC purchased a new stake in shares of Talen Energy during the second quarter valued at $1,825,000. Bank of Nova Scotia bought a new stake in Talen Energy in the 2nd quarter worth about $48,784,000. Elevation Point Wealth Partners LLC purchased a new position in Talen Energy in the 2nd quarter worth about $2,438,000. Northwestern Mutual Wealth Management Co. purchased a new position in Talen Energy in the 2nd quarter worth about $41,000. Finally, MFN Partners Management LP purchased a new position in Talen Energy in the 2nd quarter worth about $1,152,780,000,000. 0.38% of the stock is owned by institutional investors.

Talen Energy Stock Down 0.8%

Talen Energy stock opened at $314.46 on Friday. The stock has a market cap of $15.07 billion, a PE ratio of -75.41 and a beta of 1.90. The company has a debt-to-equity ratio of 5.82, a quick ratio of 0.55 and a current ratio of 0.78. Talen Energy Corporation has a one year low of $301.45 and a one year high of $451.28. The stock has a fifty day moving average of $369.15 and a 200 day moving average of $357.17.

Talen Energy (NASDAQ:TLN) last posted its earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing analysts’ consensus estimates of $3.21 by ($5.21). The firm had revenue of $747.00 million during the quarter, compared to the consensus estimate of $832.81 million. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. As a group, sell-side analysts predict that Talen Energy Corporation will post 25.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TLN. Jefferies Financial Group dropped their price target on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a report on Monday, July 20th. Wall Street Zen cut shares of Talen Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Morgan Stanley decreased their price objective on shares of Talen Energy from $508.00 to $503.00 and set an “overweight” rating for the company in a report on Friday. Barclays lowered their price objective on shares of Talen Energy from $411.00 to $408.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 28th. Finally, Scotiabank raised their target price on shares of Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $477.17.

Insider Activity at Talen Energy

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