Talen Energy Corporation $TLN Stock Position Raised by Truist Financial Corp

Truist Financial Corp lifted its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 32.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,030 shares of the utilities provider’s stock after acquiring an additional 1,708 shares during the quarter. Truist Financial Corp’s holdings in Talen Energy were worth $2,635,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TLN. Flagship Harbor Advisors LLC bought a new stake in shares of Talen Energy during the 4th quarter worth $27,000. Assetmark Inc. boosted its stake in shares of Talen Energy by 581.8% during the 3rd quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 64 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Talen Energy during the 3rd quarter worth $34,000. Advisory Services Network LLC bought a new stake in shares of Talen Energy during the 3rd quarter worth $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Talen Energy during the 4th quarter worth $39,000. 0.38% of the stock is owned by institutional investors.

Talen Energy Price Performance

Shares of NASDAQ:TLN opened at $374.61 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. Talen Energy Corporation has a 1 year low of $232.34 and a 1 year high of $451.28. The business has a fifty day simple moving average of $340.43 and a 200 day simple moving average of $362.08. The firm has a market cap of $17.01 billion, a price-to-earnings ratio of -559.11 and a beta of 1.90.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barclays reduced their target price on Talen Energy from $425.00 to $408.00 and set an “overweight” rating for the company in a report on Monday, April 20th. Raymond James Financial restated an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a report on Monday, April 27th. JPMorgan Chase & Co. reduced their target price on Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a report on Thursday, March 19th. Wells Fargo & Company increased their target price on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Morgan Stanley set a $498.00 target price on Talen Energy in a report on Friday, May 1st. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $448.25.

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).