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

Covey Capital Advisors LLC reduced its stake in Talen Energy Corporation (NASDAQ:TLN) by 18.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,638 shares of the utilities provider’s stock after selling 1,046 shares during the quarter. Talen Energy makes up 0.9% of Covey Capital Advisors LLC’s portfolio, making the stock its 24th biggest position. Covey Capital Advisors LLC’s holdings in Talen Energy were worth $827,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on TLN shares. Barclays decreased their price target on shares of Talen Energy from $207.00 to $202.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Guggenheim upped their target price on shares of Talen Energy from $219.00 to $246.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Jefferies Financial Group started coverage on Talen Energy in a report on Friday, September 13th. They set a “buy” rating and a $226.00 price objective for the company. Oppenheimer raised their target price on Talen Energy from $165.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. began coverage on Talen Energy in a research report on Thursday, October 17th. They issued an “overweight” rating and a $268.00 price target for the company. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $210.33.

Talen Energy Stock Down 1.1 %

Shares of NASDAQ:TLN opened at $214.05 on Friday. The company has a market capitalization of $10.88 billion and a PE ratio of 11.46. 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 has a fifty day moving average price of $167.28 and a two-hundred day moving average price of $122.03.

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.