Jennison Associates LLC Increases Holdings in Talen Energy Corporation $TLN

Jennison Associates LLC lifted its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 86.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 281,659 shares of the utilities provider’s stock after purchasing an additional 130,773 shares during the quarter. Jennison Associates LLC’s holdings in Talen Energy were worth $119,812,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TLN. Amundi purchased a new position in Talen Energy during the 1st quarter valued at about $299,000. AQR Capital Management LLC bought a new position in shares of Talen Energy in the first quarter valued at approximately $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Talen Energy by 11.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock valued at $1,454,000 after acquiring an additional 761 shares in the last quarter. NewEdge Advisors LLC grew its stake in Talen Energy by 17,400.0% during the first quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock valued at $175,000 after acquiring an additional 870 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Talen Energy by 15.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock worth $9,794,000 after acquiring an additional 6,498 shares during the period. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Performance

NASDAQ:TLN opened at $366.43 on Friday. Talen Energy Corporation has a 1-year low of $158.08 and a 1-year high of $451.28. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.29 and a quick ratio of 1.72. The business has a 50 day moving average of $374.12 and a 200 day moving average of $377.97. The company has a market capitalization of $16.74 billion, a price-to-earnings ratio of 79.31, a PEG ratio of 0.57 and a beta of 1.97.

Talen Energy (NASDAQ:TLN) last posted its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $4.25 EPS for the quarter, topping the consensus estimate of $4.01 by $0.24. The firm had revenue of $812.00 million for the quarter, compared to the consensus estimate of $707.90 million. Talen Energy had a net margin of 9.83% and a return on equity of 13.52%. The business’s revenue was up 24.9% compared to the same quarter last year. During the same period last year, the firm posted $3.16 earnings per share. On average, sell-side analysts predict that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TLN shares. Barclays increased their target price on shares of Talen Energy from $439.00 to $457.00 and gave the stock an “overweight” rating in a research note on Friday, January 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Talen Energy in a research note on Wednesday. Morgan Stanley upped their target price on Talen Energy from $443.00 to $470.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. JPMorgan Chase & Co. lifted their price target on Talen Energy from $432.00 to $442.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Wells Fargo & Company boosted their price objective on Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a report on Tuesday. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $400.92.

Talen Energy Company Profile

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).