Covey Capital Advisors LLC Sells 1,046 Shares of Talen Energy Corporation (NASDAQ:TLN)

Covey Capital Advisors LLC cut its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 18.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,638 shares of the utilities provider’s stock after selling 1,046 shares during the period. Talen Energy comprises approximately 0.9% of Covey Capital Advisors LLC’s investment portfolio, making the stock its 24th biggest position. Covey Capital Advisors LLC’s holdings in Talen Energy were worth $827,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of TLN. Rubric Capital Management LP acquired a new position in Talen Energy during the 3rd quarter worth approximately $2,026,342,000. River Road Asset Management LLC acquired a new position in shares of Talen Energy during the third quarter worth $277,653,000. Mirabella Financial Services LLP bought a new position in shares of Talen Energy in the 3rd quarter valued at $168,108,000. FMR LLC acquired a new stake in shares of Talen Energy during the 3rd quarter valued at $141,363,000. Finally, Jennison Associates LLC bought a new stake in Talen Energy during the 3rd quarter worth $102,840,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TLN. Barclays cut their price target on Talen Energy from $207.00 to $202.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Oppenheimer boosted their target price on shares of Talen Energy from $165.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. began coverage on shares of Talen Energy in a research note on Thursday, October 17th. They set an “overweight” rating and a $268.00 price target for the company. UBS Group boosted their price objective on shares of Talen Energy from $197.00 to $242.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Guggenheim raised their target price on Talen Energy from $219.00 to $246.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $210.33.

Talen Energy Stock Down 1.1 %

Shares of NASDAQ:TLN opened at $214.05 on Friday. Talen Energy Corporation has a 1 year low of $53.95 and a 1 year high of $222.49. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37. The business’s 50-day moving average is $167.28 and its 200-day moving average is $122.03. The company has a market capitalization of $10.88 billion and a price-to-earnings ratio of 11.46.

About Talen Energy

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.