William Blair Investment Management LLC lowered its stake in Talen Energy Corporation (NASDAQ:TLN – Free Report) by 16.2% in the 4th quarter, HoldingsChannel reports. The fund owned 569,399 shares of the utilities provider’s stock after selling 110,298 shares during the period. William Blair Investment Management LLC’s holdings in Talen Energy were worth $213,434,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position 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 worth $1,924,061,000 after acquiring an additional 117,266 shares in the last quarter. Reaves W H & Co. Inc. grew its position in Talen Energy by 12.6% in 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 grew its position in Talen Energy by 88.2% in 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 grew its position in Talen Energy by 9.5% in 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. grew its position in Talen Energy by 77.5% in 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. Hedge funds and other institutional investors own 0.38% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on TLN shares. JPMorgan Chase & Co. dropped their price target on Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Raymond James Financial reiterated an “outperform” rating and issued a $457.00 price target on shares of Talen Energy in a research report on Monday, April 27th. BNP Paribas Exane began coverage on Talen Energy in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price target for the company. Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Finally, Barclays boosted their target price on Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research report on Tuesday. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $448.58.
Talen Energy Stock Up 3.3%
Shares of NASDAQ:TLN opened at $372.45 on Friday. Talen Energy Corporation has a 1 year low of $237.35 and a 1 year high of $451.28. The business has a 50 day simple moving average of $342.12 and a two-hundred day simple moving average of $359.35. The firm has a market capitalization of $16.91 billion, a PE ratio of -555.89 and a beta of 1.90. 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 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).
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