Bornite Capital Management LP Cuts Position in Talen Energy Corporation (NASDAQ:TLN)

Bornite Capital Management LP reduced its holdings in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 19.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 210,100 shares of the utilities provider's stock after selling 51,400 shares during the period. Talen Energy makes up about 5.7% of Bornite Capital Management LP's investment portfolio, making the stock its largest position. Bornite Capital Management LP owned about 0.41% of Talen Energy worth $42,329,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new stake in Talen Energy in the 3rd quarter valued at $2,624,000. BNP Paribas Financial Markets bought a new stake in shares of Talen Energy during the third quarter worth $36,000. Holocene Advisors LP bought a new position in shares of Talen Energy in the third quarter valued at about $3,066,000. Polar Asset Management Partners Inc. acquired a new position in Talen Energy during the 3rd quarter worth about $1,640,000. Finally, Quadrature Capital Ltd bought a new stake in Talen Energy during the 3rd quarter worth about $3,514,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Stock Performance

Shares of Talen Energy stock traded down $3.88 during trading on Wednesday, reaching $178.74. The company's stock had a trading volume of 345,782 shares, compared to its average volume of 1,129,760. Talen Energy Corporation has a 52 week low of $98.50 and a 52 week high of $258.03. The firm has a market cap of $8.13 billion, a PE ratio of 9.52, a P/E/G ratio of 2.70 and a beta of 1.93. The business's 50-day moving average price is $211.26 and its 200-day moving average price is $195.39. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07.

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Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Talen Energy in a research note on Wednesday, March 12th. They set an "overweight" rating and a $243.00 price target on the stock. UBS Group raised their price target on Talen Energy from $242.00 to $269.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Barclays decreased their price objective on Talen Energy from $293.00 to $282.00 and set an "overweight" rating for the company in a research report on Tuesday, March 4th. Evercore ISI began coverage on shares of Talen Energy in a report on Friday, February 21st. They set an "outperform" rating on the stock. Finally, Bank of America began coverage on shares of Talen Energy in a report on Monday, February 3rd. They issued a "buy" rating and a $253.00 price target for the company. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Talen Energy presently has a consensus rating of "Buy" and an average price target of $241.09.

About Talen Energy

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.