Geode Capital Management LLC Boosts Stock Position in Talen Energy Corporation $TLN

Geode Capital Management LLC boosted its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 9.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,049,196 shares of the utilities provider’s stock after purchasing an additional 87,784 shares during the quarter. Geode Capital Management LLC’s holdings in Talen Energy were worth $409,559,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TLN. State Street Corp increased its holdings in Talen Energy by 88.2% during the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after purchasing an additional 627,467 shares during the last quarter. Invesco Ltd. increased its holdings in Talen Energy by 77.5% during the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock worth $452,189,000 after purchasing an additional 464,014 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in Talen Energy by 475.3% during the 3rd quarter. Voloridge Investment Management LLC now owns 259,475 shares of the utilities provider’s stock worth $110,375,000 after purchasing an additional 214,371 shares during the last quarter. Palestra Capital Management LLC purchased a new stake in Talen Energy during the 3rd quarter worth approximately $81,486,000. Finally, Reaves W H & Co. Inc. increased its holdings in shares of Talen Energy by 12.6% in the 3rd quarter. Reaves W H & Co. Inc. now owns 1,410,537 shares of the utilities provider’s stock valued at $600,014,000 after acquiring an additional 158,047 shares during the last quarter. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TLN. Morgan Stanley reiterated an “overweight” rating and issued a $499.00 price target on shares of Talen Energy in a report on Thursday, May 21st. Wells Fargo & Company boosted their price target on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Barclays boosted their price target on Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $457.00 price target on shares of Talen Energy in a report on Monday, April 27th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Talen Energy presently has an average rating of “Moderate Buy” and an average target price of $448.58.

Talen Energy Price Performance

Shares of NASDAQ TLN opened at $386.80 on Monday. Talen Energy Corporation has a twelve month low of $239.20 and a twelve month high of $451.28. 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 company has a market capitalization of $17.56 billion, a price-to-earnings ratio of -577.30 and a beta of 1.81. The business has a 50 day simple moving average of $348.10 and a 200-day simple moving average of $358.58.

Talen Energy 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).