Vanguard Group Inc. Increases Stock Holdings in Talen Energy Corporation $TLN

Vanguard Group Inc. boosted its stake in Talen Energy Corporation (NASDAQ:TLN) by 2.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,523,159 shares of the utilities provider’s stock after buying an additional 117,266 shares during the quarter. Vanguard Group Inc. owned 0.10% of Talen Energy worth $1,924,061,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Talen Energy in the 2nd quarter worth $168,188,000. State Street Corp boosted its holdings in Talen Energy by 151.0% during the second quarter. State Street Corp now owns 711,231 shares of the utilities provider’s stock worth $206,805,000 after purchasing an additional 427,910 shares during the last quarter. Third Point LLC grew its position in Talen Energy by 34.2% in the 2nd quarter. Third Point LLC now owns 785,000 shares of the utilities provider’s stock worth $228,254,000 after purchasing an additional 200,000 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Talen Energy by 179.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 264,091 shares of the utilities provider’s stock valued at $76,790,000 after buying an additional 169,734 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Talen Energy by 26.1% during the 2nd quarter. Geode Capital Management LLC now owns 794,754 shares of the utilities provider’s stock worth $231,150,000 after buying an additional 164,734 shares in the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Trading Down 0.1%

Shares of TLN opened at $380.06 on Friday. Talen Energy Corporation has a fifty-two week low of $158.08 and a fifty-two week high of $451.28. The business has a 50-day moving average of $368.50 and a 200 day moving average of $383.47. The firm has a market cap of $17.36 billion, a P/E ratio of 82.26, a price-to-earnings-growth ratio of 0.57 and a beta of 1.98. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.72 and a current ratio of 2.29.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $473.00 target price on shares of Talen Energy in a report on Tuesday. Wells Fargo & Company upped their price objective on Talen Energy from $445.00 to $506.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Barclays lowered their target price on Talen Energy from $457.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Talen Energy in a research report on Wednesday, January 21st. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $410.83.

Talen Energy 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).