Talen Energy Corporation $TLN Stock Holdings Increased by Fred Alger Management LLC

Fred Alger Management LLC increased its stake in shares of Talen Energy Corporation (NASDAQ:TLNFree Report) by 8.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,804,094 shares of the utilities provider’s stock after acquiring an additional 140,345 shares during the period. Talen Energy comprises about 2.6% of Fred Alger Management LLC’s portfolio, making the stock its 10th biggest position. Fred Alger Management LLC’s holdings in Talen Energy were worth $676,247,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Daiwa Securities Group Inc. lifted its holdings in shares of Talen Energy by 5.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 671 shares of the utilities provider’s stock valued at $252,000 after purchasing an additional 36 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Talen Energy by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 10,223 shares of the utilities provider’s stock valued at $3,832,000 after purchasing an additional 39 shares in the last quarter. Berbice Capital Management LLC lifted its holdings in shares of Talen Energy by 19.1% in the fourth quarter. Berbice Capital Management LLC now owns 280 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 45 shares in the last quarter. Red Door Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 47 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Talen Energy by 13.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 475 shares of the utilities provider’s stock valued at $178,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Performance

NASDAQ:TLN opened at $406.51 on Wednesday. The firm has a 50 day simple moving average of $359.74 and a 200-day simple moving average of $358.33. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05. The firm has a market cap of $18.46 billion, a PE ratio of -606.72 and a beta of 1.80. Talen Energy Corporation has a 1-year low of $255.50 and a 1-year high of $451.28.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TLN. Wells Fargo & Company upped their price target on shares of Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. BNP Paribas Exane began coverage on shares of Talen Energy in a report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $499.00 price target on shares of Talen Energy in a report on Thursday, May 21st. Raymond James Financial reaffirmed an “outperform” rating and issued a $457.00 price target on shares of Talen Energy in a report on Monday, April 27th. Finally, Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $448.58.

Check Out Our Latest Stock Report on TLN

Talen Energy Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Talen Energy (NASDAQ:TLN)

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