Fred Alger Management LLC increased its stake in shares of Talen Energy Corporation (NASDAQ:TLN – Free 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
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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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