Brevan Howard Capital Management LP Acquires 6,796 Shares of Talen Energy Corporation $TLN

Brevan Howard Capital Management LP grew its holdings in Talen Energy Corporation (NASDAQ:TLN) by 379.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,585 shares of the utilities provider’s stock after acquiring an additional 6,796 shares during the period. Brevan Howard Capital Management LP’s holdings in Talen Energy were worth $3,652,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Grove Bank & Trust purchased a new position in shares of Talen Energy during the third quarter valued at approximately $32,000. Assetmark Inc. lifted its stake in Talen Energy by 581.8% in the third quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 64 shares during the period. Neo Ivy Capital Management purchased a new stake in Talen Energy in the third quarter worth $34,000. MAI Capital Management boosted its holdings in Talen Energy by 115.7% in the second quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 59 shares in the last quarter. Finally, Optiver Holding B.V. bought a new stake in Talen Energy in the third quarter valued at $48,000. 0.38% of the stock is currently owned by institutional investors.

Talen Energy Price Performance

TLN opened at $317.60 on Tuesday. The stock has a fifty day simple moving average of $358.76 and a two-hundred day simple moving average of $380.25. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 6.20. The company has a market cap of $14.51 billion, a price-to-earnings ratio of -64.29, a price-to-earnings-growth ratio of 0.45 and a beta of 1.94. Talen Energy Corporation has a 12-month low of $162.31 and a 12-month high of $451.28.

Wall Street Analysts Forecast Growth

TLN has been the subject of several research reports. Wells Fargo & Company upped their price objective on shares of Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Morgan Stanley set a $474.00 target price on shares of Talen Energy in a research note on Friday, February 20th. Barclays decreased their price target on shares of Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. Finally, Weiss Ratings lowered shares of Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, February 27th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Talen Energy presently has an average rating of “Moderate Buy” and a consensus target price of $430.09.

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).