Apis Capital Advisors LLC Has $32.50 Million Stock Position in Talen Energy Corporation $TLN

Apis Capital Advisors LLC trimmed its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 15.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,400 shares of the utilities provider’s stock after selling 14,000 shares during the quarter. Talen Energy accounts for about 7.2% of Apis Capital Advisors LLC’s holdings, making the stock its 2nd largest position. Apis Capital Advisors LLC owned about 0.17% of Talen Energy worth $32,499,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. JAT Capital Mgmt LP purchased a new position in Talen Energy in the third quarter worth $1,610,000. Creative Planning increased its position in shares of Talen Energy by 64.0% during the 3rd quarter. Creative Planning now owns 2,631 shares of the utilities provider’s stock valued at $1,119,000 after purchasing an additional 1,027 shares during the last quarter. Raymond James Financial Inc. increased its position in shares of Talen Energy by 17.8% during the 3rd quarter. Raymond James Financial Inc. now owns 57,876 shares of the utilities provider’s stock valued at $24,619,000 after purchasing an additional 8,731 shares during the last quarter. Amundi bought a new stake in shares of Talen Energy during the 3rd quarter worth $15,448,000. Finally, Exit Wealth Advisors LLC. bought a new stake in shares of Talen Energy during the 3rd quarter worth $218,000. 0.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Talen Energy Stock Up 1.5%

TLN stock opened at $316.14 on Friday. The stock has a fifty day moving average of $360.32 and a 200-day moving average of $380.75. Talen Energy Corporation has a fifty-two week low of $162.31 and a fifty-two week high of $451.28. The company has a market capitalization of $14.44 billion, a price-to-earnings ratio of -64.00, a PEG ratio of 0.45 and a beta of 1.94. The company has a debt-to-equity ratio of 6.20, a quick ratio of 1.02 and a current ratio of 1.28.

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).