Candelo Capital Management LP Has $5.42 Million Stock Holdings in Talen Energy Corporation (NASDAQ:TLN)

Candelo Capital Management LP decreased its stake in Talen Energy Corporation (NASDAQ:TLN) by 9.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,904 shares of the utilities provider’s stock after selling 2,896 shares during the quarter. Talen Energy makes up about 2.7% of Candelo Capital Management LP’s holdings, making the stock its 15th biggest position. Candelo Capital Management LP owned approximately 0.05% of Talen Energy worth $5,420,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Allworth Financial LP grew its position in Talen Energy by 170.6% in the fourth quarter. Allworth Financial LP now owns 184 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 116 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in Talen Energy in the fourth quarter worth $37,000. Geneos Wealth Management Inc. acquired a new position in Talen Energy during the fourth quarter worth $39,000. Empowered Funds LLC acquired a new stake in shares of Talen Energy in the fourth quarter worth about $42,000. Finally, Whipplewood Advisors LLC acquired a new stake in Talen Energy in the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

TLN has been the subject of a number of analyst reports. Bank of America began coverage on shares of Talen Energy in a research note on Monday, February 3rd. They issued a “buy” rating and a $253.00 price objective for the company. Barclays dropped their target price on shares of Talen Energy from $293.00 to $282.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 4th. Daiwa Capital Markets set a $200.00 price target on shares of Talen Energy in a report on Wednesday, March 5th. 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, JPMorgan Chase & Co. cut their price objective on shares of Talen Energy from $295.00 to $265.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $240.18.

Talen Energy Price Performance

Shares of TLN opened at $197.59 on Wednesday. The stock has a market cap of $8.99 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 2.70 and a beta of 1.93. Talen Energy Corporation has a 1 year low of $98.50 and a 1 year high of $258.03. The stock’s 50-day moving average price is $203.84 and its two-hundred day moving average price is $201.30. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07.

Talen Energy Company Profile

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.