Jennison Associates LLC Has $43.87 Million Position in Talen Energy Corporation $TLN

Jennison Associates LLC boosted its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 19.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 150,886 shares of the utilities provider’s stock after buying an additional 24,659 shares during the quarter. Jennison Associates LLC’s holdings in Talen Energy were worth $43,873,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TLN. Golden State Wealth Management LLC acquired a new position in Talen Energy during the 1st quarter worth about $35,000. Cannon Global Investment Management LLC raised its position in shares of Talen Energy by 29.0% in the 1st quarter. Cannon Global Investment Management LLC now owns 4,000 shares of the utilities provider’s stock worth $799,000 after acquiring an additional 900 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Talen Energy by 176.2% in the 1st quarter. Teacher Retirement System of Texas now owns 5,606 shares of the utilities provider’s stock worth $1,119,000 after acquiring an additional 3,576 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Talen Energy by 114.9% in the 1st quarter. Principal Financial Group Inc. now owns 3,591 shares of the utilities provider’s stock worth $717,000 after acquiring an additional 1,920 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Talen Energy by 37.4% in the 1st quarter. Bank of New York Mellon Corp now owns 133,533 shares of the utilities provider’s stock worth $26,663,000 after acquiring an additional 36,325 shares in the last quarter. 0.38% of the stock is owned by institutional investors and hedge funds.

Talen Energy Stock Performance

Shares of Talen Energy stock opened at $391.82 on Friday. Talen Energy Corporation has a one year low of $158.08 and a one year high of $451.28. The firm has a market capitalization of $17.90 billion, a price-to-earnings ratio of 111.00, a PEG ratio of 2.08 and a beta of 1.88. The business has a 50-day simple moving average of $404.60 and a 200 day simple moving average of $323.71. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.84 and a quick ratio of 1.34.

Talen Energy (NASDAQ:TLN) last issued its earnings results on Thursday, August 7th. The utilities provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of ($1.13) by $2.63. Talen Energy had a return on equity of 17.81% and a net margin of 8.75%.The business had revenue of $630.00 million during the quarter, compared to analyst estimates of $481.48 million. On average, research analysts anticipate that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wells Fargo & Company assumed coverage on Talen Energy in a research report on Monday. They issued an “overweight” rating and a $453.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Talen Energy in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Talen Energy from a “sell” rating to a “hold” rating in a research note on Monday, August 11th. Melius began coverage on shares of Talen Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $427.00 target price on the stock. Finally, UBS Group set a $431.00 target price on shares of Talen Energy and gave the stock a “buy” rating in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Talen Energy presently has an average rating of “Moderate Buy” and a consensus target price of $395.64.

About Talen Energy

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.