Jennison Associates LLC Sells 2,757 Shares of Talen Energy Corporation $TLN

Jennison Associates LLC decreased its position in Talen Energy Corporation (NASDAQ:TLN) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 278,902 shares of the utilities provider’s stock after selling 2,757 shares during the quarter. Jennison Associates LLC’s holdings in Talen Energy were worth $104,544,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Red Door Wealth Management LLC lifted its holdings in Talen Energy by 2.2% in the fourth quarter. Red Door Wealth Management LLC now owns 2,191 shares of the utilities provider’s stock valued at $821,000 after acquiring an additional 47 shares during the period. CWM LLC lifted its holdings in Talen Energy by 3.5% in the fourth quarter. CWM LLC now owns 1,680 shares of the utilities provider’s stock valued at $630,000 after acquiring an additional 57 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in Talen Energy by 8.1% in the third quarter. B. Riley Wealth Advisors Inc. now owns 787 shares of the utilities provider’s stock valued at $335,000 after acquiring an additional 59 shares during the period. Assetmark Inc. lifted its holdings in Talen Energy by 581.8% in the third quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 64 shares during the period. Finally, Compound Planning Inc. lifted its holdings in Talen Energy by 8.8% in the third quarter. Compound Planning Inc. now owns 803 shares of the utilities provider’s stock valued at $342,000 after acquiring an additional 65 shares during the period. Institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Up 5.8%

NASDAQ TLN opened at $372.42 on Friday. The stock’s 50-day moving average price is $339.39 and its 200-day moving average price is $363.54. 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 52 week low of $216.20 and a 52 week high of $451.28. The company has a market capitalization of $16.91 billion, a P/E ratio of -75.39, a price-to-earnings-growth ratio of 0.51 and a beta of 2.15.

Analysts Set New Price Targets

A number of research analysts have weighed in on TLN shares. Wells Fargo & Company increased their target price on Talen Energy from $445.00 to $506.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Raymond James Financial reissued an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a report on Monday. Morgan Stanley reissued an “overweight” rating and issued a $479.00 target price on shares of Talen Energy in a report on Tuesday, April 21st. Barclays decreased their price objective on Talen Energy from $425.00 to $408.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Finally, Weiss Ratings downgraded Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. Twelve investment 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $449.08.

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).