Arrow Capital Management LLC Buys 4,296 Shares of Talen Energy Corporation $TLN

Arrow Capital Management LLC increased its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 15.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 32,340 shares of the utilities provider’s stock after purchasing an additional 4,296 shares during the period. Talen Energy makes up approximately 7.2% of Arrow Capital Management LLC’s investment portfolio, making the stock its 5th largest position. Arrow Capital Management LLC owned 0.07% of Talen Energy worth $10,324,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in Talen Energy by 1,526.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,054 shares of the utilities provider’s stock valued at $9,766,000 after purchasing an additional 24,452 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Talen Energy by 11.8% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 45,250 shares of the utilities provider’s stock valued at $16,962,000 after purchasing an additional 4,770 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Talen Energy by 400.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 14,105 shares of the utilities provider’s stock worth $5,287,000 after buying an additional 11,287 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in Talen Energy by 116.8% during the fourth quarter. Sanctuary Advisors LLC now owns 6,454 shares of the utilities provider’s stock worth $2,419,000 after acquiring an additional 3,477 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Talen Energy in the 4th quarter worth approximately $50,324,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

TLN has been the topic of several recent analyst reports. The Goldman Sachs Group started 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 on the stock. Barclays raised their price target on shares of Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Raymond James Financial reaffirmed an “outperform” rating and set a $457.00 price objective on shares of Talen Energy in a research note on Monday, April 27th. Jefferies Financial Group cut their target price on Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a research note on Monday. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $508.00 price target on shares of Talen Energy in a research note on Wednesday, June 24th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $472.50.

Insider Buying and Selling

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the sale, the director owned 2,606 shares in the company, valued at approximately $990,280. This represents a 49.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.78% of the company’s stock.

Talen Energy Trading Up 0.5%

Shares of TLN opened at $379.27 on Friday. The firm has a market capitalization of $18.17 billion, a P/E ratio of -566.07 and a beta of 1.82. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. The firm’s 50-day moving average is $378.72 and its two-hundred day moving average is $361.83. Talen Energy Corporation has a twelve month low of $301.45 and a twelve month 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).