Owl Creek Asset Management L.P. reduced its position in shares of Talen Energy Corporation (NASDAQ:TLN – Free Report) by 33.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,043 shares of the utilities provider’s stock after selling 31,592 shares during the period. Talen Energy makes up approximately 1.5% of Owl Creek Asset Management L.P.’s investment portfolio, making the stock its 8th biggest position. Owl Creek Asset Management L.P. owned 0.14% of Talen Energy worth $20,444,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amundi bought a new position in shares of Talen Energy in the 1st quarter valued at $299,000. AQR Capital Management LLC acquired a new position in Talen Energy in the 1st quarter worth about $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Talen Energy by 11.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock worth $1,454,000 after purchasing an additional 761 shares in the last quarter. NewEdge Advisors LLC raised its position in Talen Energy by 17,400.0% in the first quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock valued at $175,000 after purchasing an additional 870 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Talen Energy by 15.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock valued at $9,794,000 after purchasing an additional 6,498 shares during the last quarter. 0.38% of the stock is currently owned by institutional investors.
Insider Transactions at Talen Energy
In other news, Director Gizman I. Abbas sold 2,600 shares of the business’s 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 approximately $990,280. The trade was a 49.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.78% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Stock Report on Talen Energy
Talen Energy Stock Performance
Shares of TLN stock opened at $359.90 on Monday. The business’s 50 day simple moving average is $379.23 and its 200 day simple moving average is $361.58. Talen Energy Corporation has a one year low of $301.45 and a one year high of $451.28. The stock has a market capitalization of $17.24 billion, a PE ratio of -537.16 and a beta of 1.82. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05.
Talen Energy Company 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).
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