Talen Energy Corporation $TLN Shares Acquired by Legal & General Group Plc

Legal & General Group Plc grew its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 25.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,065 shares of the utilities provider’s stock after purchasing an additional 13,476 shares during the period. Legal & General Group Plc owned about 0.14% of Talen Energy worth $24,764,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TLN. Amundi acquired a new stake in Talen Energy during the 1st quarter worth about $299,000. AQR Capital Management LLC acquired a new position in Talen Energy in the 1st quarter worth approximately $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Talen Energy by 11.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock valued at $1,454,000 after buying an additional 761 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Talen Energy by 17,400.0% in the 1st quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock valued at $175,000 after purchasing an additional 870 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Talen Energy by 15.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock worth $9,794,000 after buying an additional 6,498 shares in the last quarter. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Stock Performance

Talen Energy stock opened at $386.80 on Monday. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. The business’s 50-day simple moving average is $348.10 and its 200-day simple moving average is $358.58. The firm has a market capitalization of $17.56 billion, a PE ratio of -577.30 and a beta of 1.81. Talen Energy Corporation has a 52 week low of $239.20 and a 52 week high of $451.28.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley reissued an “overweight” rating and set a $499.00 price objective on shares of Talen Energy in a research report on Thursday, May 21st. Raymond James Financial reissued an “outperform” rating and set a $457.00 price objective on shares of Talen Energy in a research report on Monday, April 27th. JPMorgan Chase & Co. reduced their price objective on Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. BNP Paribas Exane began coverage on Talen Energy in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price target for the company. Finally, Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Talen Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $448.58.

About Talen Energy

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).