O Brien Greene & Co. Inc reduced its stake in Talen Energy Corporation (NASDAQ:TLN – Free Report) by 14.4% in the 4th quarter, HoldingsChannel reports. The firm owned 11,076 shares of the utilities provider’s stock after selling 1,869 shares during the quarter. Talen Energy makes up 1.2% of O Brien Greene & Co. Inc’s portfolio, making the stock its 25th biggest position. O Brien Greene & Co. Inc’s holdings in Talen Energy were worth $4,152,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Talen Energy by 2.7% in the third quarter. Vanguard Group Inc. now owns 4,523,159 shares of the utilities provider’s stock valued at $1,924,061,000 after purchasing an additional 117,266 shares in the last quarter. Reaves W H & Co. Inc. increased its position in shares of Talen Energy by 12.6% during the third quarter. Reaves W H & Co. Inc. now owns 1,410,537 shares of the utilities provider’s stock worth $600,014,000 after acquiring an additional 158,047 shares in the last quarter. State Street Corp increased its position in shares of Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after acquiring an additional 627,467 shares in the last quarter. Lone Pine Capital LLC increased its position in shares of Talen Energy by 9.5% during the third quarter. Lone Pine Capital LLC now owns 1,192,516 shares of the utilities provider’s stock worth $507,272,000 after acquiring an additional 103,136 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Talen Energy by 77.5% during the third quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock worth $452,189,000 after acquiring an additional 464,014 shares in the last quarter. 0.38% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
TLN has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their target price on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. BNP Paribas Exane initiated coverage on shares of Talen Energy in a research report on Wednesday, March 18th. They set an “outperform” rating and a $548.00 target price for the company. Wells Fargo & Company boosted their target price on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Barclays decreased their target price on shares of Talen Energy from $425.00 to $408.00 and set an “overweight” rating for the company in a research report on Monday, April 20th. Finally, Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $448.25.
Talen Energy Stock Down 5.3%
Talen Energy stock opened at $334.24 on Friday. Talen Energy Corporation has a fifty-two week low of $232.34 and a fifty-two week high of $451.28. The stock has a market cap of $15.17 billion, a PE ratio of -498.86 and a beta of 1.90. The firm’s 50-day simple moving average is $340.57 and its 200 day simple moving average is $361.27. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25.
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).
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