Castleark Management LLC Sells 6,150 Shares of Talen Energy Corporation $TLN

Castleark Management LLC lessened its stake in Talen Energy Corporation (NASDAQ:TLN) by 76.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,920 shares of the utilities provider’s stock after selling 6,150 shares during the quarter. Castleark Management LLC’s holdings in Talen Energy were worth $613,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TLN. Flagship Harbor Advisors LLC bought a new stake in Talen Energy during the fourth quarter worth $27,000. Advisory Services Network LLC bought a new position in shares of Talen Energy in the 3rd quarter valued at about $35,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Talen Energy by 1,500.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 90 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Talen Energy in the 4th quarter valued at about $39,000. Finally, Bessemer Group Inc. lifted its stake in Talen Energy by 404.0% in the 1st quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 101 shares during the last quarter. 0.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TLN. Raymond James Financial restated an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a research note on Monday, April 27th. Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Wells Fargo & Company upped their price objective on shares of Talen Energy from $477.00 to $482.00 and gave the company an “overweight” rating in a report on Monday. Jefferies Financial Group dropped their price objective on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Finally, The Goldman Sachs Group assumed coverage on shares of Talen Energy in a research note on Thursday, June 18th. They set a “buy” rating and a $499.00 target price for the company. Nine analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $476.73.

Insider Buying and Selling

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the transaction, the director directly owned 2,606 shares of the company’s stock, valued at $990,280. This represents a 49.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.78% of the stock is currently owned by corporate insiders.

Talen Energy Price Performance

Shares of NASDAQ TLN opened at $347.07 on Tuesday. The firm has a market cap of $16.62 billion, a P/E ratio of -518.01 and a beta of 1.82. The business’s 50 day moving average is $379.69 and its 200-day moving average is $361.26. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. Talen Energy Corporation has a 1-year low of $301.45 and a 1-year high of $451.28.

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).