Axxcess Wealth Management LLC Has $2.85 Million Position in Talen Energy Corporation $TLN

Axxcess Wealth Management LLC lifted its holdings in Talen Energy Corporation (NASDAQ:TLN) by 56.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,705 shares of the utilities provider’s stock after buying an additional 2,411 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Talen Energy were worth $2,852,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its position in Talen Energy by 33.9% during the second quarter. Envestnet Asset Management Inc. now owns 38,312 shares of the utilities provider’s stock worth $11,140,000 after purchasing an additional 9,692 shares during the period. Mutual Advisors LLC acquired a new position in shares of Talen Energy in the 3rd quarter valued at approximately $2,485,000. Reaves W H & Co. Inc. lifted its holdings in shares of Talen Energy by 12.6% during the 3rd 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 during the period. Principal Financial Group Inc. boosted its position in shares of Talen Energy by 2,067.8% during the 3rd quarter. Principal Financial Group Inc. now owns 101,452 shares of the utilities provider’s stock worth $43,156,000 after acquiring an additional 96,772 shares in the last quarter. Finally, Securian Asset Management Inc. bought a new position in Talen Energy in the third quarter valued at approximately $1,481,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TLN has been the subject of several recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $473.00 target price on shares of Talen Energy in a research note on Tuesday. Wells Fargo & Company upped their price objective on Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Talen Energy in a research note on Wednesday, January 21st. Finally, Barclays lowered their target price on Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $410.83.

Talen Energy Stock Performance

NASDAQ:TLN opened at $380.06 on Friday. The stock’s 50-day moving average is $368.50 and its 200-day moving average is $383.47. Talen Energy Corporation has a 1-year low of $158.08 and a 1-year high of $451.28. The company has a current ratio of 2.29, a quick ratio of 1.72 and a debt-to-equity ratio of 2.02. The stock has a market cap of $17.36 billion, a P/E ratio of 82.26, a price-to-earnings-growth ratio of 0.57 and a beta of 1.98.

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).