Talen Energy Corporation $TLN Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its holdings in shares of Talen Energy Corporation (NASDAQ:TLN – Free Report) by 1.8% in the first quarter, HoldingsChannel.com reports. The fund owned 74,456 shares of the utilities provider’s stock after selling 1,403 shares during the quarter. California Public Employees Retirement System’s holdings in Talen Energy were worth $23,769,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp grew its position in shares of Talen Energy by 88.2% in the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after purchasing an additional 627,467 shares during the last quarter. Norges Bank acquired a new position in shares of Talen Energy during the 4th quarter worth approximately $225,930,000. Invesco Ltd. lifted its stake in Talen Energy by 77.5% in the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock valued at $452,189,000 after buying an additional 464,014 shares in the last quarter. Sachem Head Capital Management LP lifted its stake in Talen Energy by 72.4% in the 4th quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider’s stock valued at $374,840,000 after buying an additional 420,000 shares in the last quarter. Finally, Deltroit Asset Management UK LLP acquired a new stake in Talen Energy during the 4th quarter valued at $103,081,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

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Talen Energy Stock Up 3.1%

Shares of NASDAQ:TLN opened at $377.41 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. The firm has a market cap of $18.08 billion, a price-to-earnings ratio of -563.29 and a beta of 1.82. The stock’s 50-day moving average price is $378.19 and its two-hundred day moving average price is $361.95. Talen Energy Corporation has a 12-month low of $301.45 and a 12-month high of $451.28.

Analyst Ratings Changes

Several equities analysts have weighed in on TLN shares. Scotiabank raised their price target on Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 15th. The Goldman Sachs Group assumed coverage on Talen Energy in a research note on Thursday, June 18th. They set a “buy” rating and a $499.00 price objective on the stock. Wells Fargo & Company lifted their price objective on Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Raymond James Financial reissued an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a research report on Monday, April 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $508.00 target price on shares of Talen Energy in a research note on Wednesday, June 24th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $472.50.

Read Our Latest Stock Analysis on Talen Energy

Insider Buying and Selling at Talen Energy

In related news, Director Gizman I. Abbas sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the sale, the director directly owned 2,606 shares of the company’s stock, valued at approximately $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.78% of the stock is currently owned by insiders.

About Talen Energy

(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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