Talen Energy Corporation $TLN Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its position in Talen Energy Corporation (NASDAQ:TLN) by 19.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 334,391 shares of the utilities provider’s stock after buying an additional 54,868 shares during the period. Pictet Asset Management Holding SA owned approximately 0.74% of Talen Energy worth $106,748,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. increased its holdings in Talen Energy by 1.6% during the 3rd quarter. American Century Companies Inc. now owns 342,914 shares of the utilities provider’s stock worth $145,870,000 after purchasing an additional 5,389 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Talen Energy by 1,526.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,054 shares of the utilities provider’s stock worth $9,766,000 after buying an additional 24,452 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Talen Energy by 157.0% during the third quarter. Victory Capital Management Inc. now owns 111,104 shares of the utilities provider’s stock worth $47,261,000 after buying an additional 67,881 shares in the last quarter. South Dakota Investment Council bought a new stake in shares of Talen Energy in the third quarter worth $1,489,000. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Talen Energy by 11.8% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 45,250 shares of the utilities provider’s stock worth $16,962,000 after buying an additional 4,770 shares during the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the sale, the director directly owned 2,606 shares of the company’s stock, valued at $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.78% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on TLN. JPMorgan Chase & Co. reduced their price objective on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $508.00 price target on shares of Talen Energy in a research report on Wednesday. BNP Paribas Exane began coverage on Talen Energy in a research note on Wednesday, March 18th. They set an “outperform” rating and a $548.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on Talen Energy in a research note on Thursday, June 18th. They set a “buy” rating and a $499.00 price objective on the stock. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Talen Energy has an average rating of “Moderate Buy” and an average price target of $458.77.

Talen Energy Stock Performance

NASDAQ TLN opened at $404.09 on Monday. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. Talen Energy Corporation has a one year low of $255.50 and a one year high of $451.28. The company has a 50-day simple moving average of $374.08 and a 200-day simple moving average of $361.03. The firm has a market capitalization of $19.36 billion, a PE ratio of -603.11 and a beta of 1.81.

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).