Talen Energy Corporation $TLN Position Reduced by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp trimmed its position in Talen Energy Corporation (NASDAQ:TLN) by 60.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,639 shares of the utilities provider’s stock after selling 5,462 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in Talen Energy were worth $1,162,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Fred Alger Management LLC raised its holdings in shares of Talen Energy by 8.4% during the fourth quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider’s stock valued at $676,247,000 after acquiring an additional 140,345 shares during the period. Reaves W H & Co. Inc. boosted its stake in Talen Energy by 7.9% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock worth $570,393,000 after purchasing an additional 111,160 shares during the period. Invesco Ltd. boosted its stake in Talen Energy by 35.6% in the 4th quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider’s stock worth $540,287,000 after purchasing an additional 378,357 shares during the period. State Street Corp grew its position in Talen Energy by 88.2% during the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after purchasing an additional 627,467 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Talen Energy by 9.1% during the 4th quarter. Geode Capital Management LLC now owns 1,049,196 shares of the utilities provider’s stock worth $409,559,000 after purchasing an additional 87,784 shares in the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Stock Performance

Shares of NASDAQ TLN opened at $359.90 on Friday. The business’s 50-day moving average price is $379.23 and its two-hundred day moving average price is $361.82. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05. Talen Energy Corporation has a one year low of $301.45 and a one year high of $451.28. The company has a market capitalization of $17.24 billion, a P/E ratio of -537.16 and a beta of 1.82.

Analyst Ratings Changes

A number of research firms have recently issued reports on TLN. Barclays increased their target price on Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Jefferies Financial Group lowered their price target on Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a report on Monday, July 20th. Wells Fargo & Company upped their price target on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. The Goldman Sachs Group initiated coverage on Talen Energy in a research note on Thursday, June 18th. They issued a “buy” rating and a $499.00 price objective for the company. Finally, Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Talen Energy presently has an average rating of “Moderate Buy” and an average target price of $476.27.

Insider Activity

In related news, Director Gizman I. Abbas sold 2,600 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director owned 2,606 shares of the company’s stock, valued at approximately $990,280. The trade was a 49.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.78% of the stock is currently owned by corporate insiders.

About Talen Energy

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).