21,329 Shares in Talen Energy Corporation $TLN Acquired by Pinnbrook Capital Management LP

Pinnbrook Capital Management LP acquired a new stake in Talen Energy Corporation (NASDAQ:TLN) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 21,329 shares of the utilities provider’s stock, valued at approximately $9,073,000. Talen Energy makes up about 1.0% of Pinnbrook Capital Management LP’s holdings, making the stock its 19th biggest position.

Several other large investors have also recently added to or reduced their stakes in TLN. American Century Companies Inc. grew its stake in shares of Talen Energy by 1.6% in the third quarter. American Century Companies Inc. now owns 342,914 shares of the utilities provider’s stock valued at $145,870,000 after acquiring an additional 5,389 shares in the last quarter. Reaves W H & Co. Inc. raised its stake in Talen Energy by 12.6% in the 3rd quarter. Reaves W H & Co. Inc. now owns 1,410,537 shares of the utilities provider’s stock worth $600,014,000 after purchasing an additional 158,047 shares in the last quarter. Mutual Advisors LLC acquired a new stake in Talen Energy in the 3rd quarter worth about $2,485,000. Principal Financial Group Inc. boosted its holdings in Talen Energy by 2,067.8% in the 3rd quarter. Principal Financial Group Inc. now owns 101,452 shares of the utilities provider’s stock valued at $43,156,000 after purchasing an additional 96,772 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Talen Energy by 57.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 376,562 shares of the utilities provider’s stock valued at $160,182,000 after purchasing an additional 137,182 shares during the period. Institutional investors own 0.38% of the company’s stock.

Talen Energy Trading Up 1.5%

TLN opened at $316.14 on Friday. The stock has a market capitalization of $14.44 billion, a price-to-earnings ratio of -64.00, a P/E/G ratio of 0.45 and a beta of 1.94. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 6.20. Talen Energy Corporation has a twelve month low of $162.31 and a twelve month high of $451.28. The company has a 50-day simple moving average of $360.32 and a 200 day simple moving average of $380.74.

Analyst Ratings Changes

A number of brokerages have issued reports on TLN. Weiss Ratings lowered shares of Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, February 27th. Wells Fargo & Company lifted their price target on shares of Talen Energy from $445.00 to $506.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Morgan Stanley set a $474.00 price target on Talen Energy in a research note on Friday, February 20th. Finally, Barclays reduced their price target on Talen Energy from $457.00 to $425.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 11th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $430.09.

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).