Clearbridge Investments LLC Buys 60,941 Shares of Talen Energy Corporation $TLN

Clearbridge Investments LLC raised its stake in Talen Energy Corporation (NASDAQ:TLN) by 23.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 321,058 shares of the utilities provider’s stock after buying an additional 60,941 shares during the period. Clearbridge Investments LLC owned about 0.70% of Talen Energy worth $120,345,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TLN. State Street Corp grew its position in shares of Talen Energy by 88.2% in the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after buying an additional 627,467 shares during the last quarter. Norges Bank bought a new stake in shares of Talen Energy in the 4th quarter valued at about $225,930,000. Invesco Ltd. grew its position in shares of 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 during the last quarter. Deltroit Asset Management UK LLP bought a new stake in shares of Talen Energy in the 4th quarter valued at about $103,081,000. Finally, Voloridge Investment Management LLC lifted its stake in shares of Talen Energy by 475.3% in the 3rd quarter. Voloridge Investment Management LLC now owns 259,475 shares of the utilities provider’s stock valued at $110,375,000 after purchasing an additional 214,371 shares during the period. Institutional investors own 0.38% of the company’s stock.

Talen Energy Price Performance

TLN stock opened at $364.74 on Monday. The stock’s 50 day simple moving average is $353.84 and its 200 day simple moving average is $358.99. Talen Energy Corporation has a fifty-two week low of $246.95 and a fifty-two week high of $451.28. 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 company has a market cap of $16.56 billion, a P/E ratio of -544.38 and a beta of 1.81.

Wall Street Analyst Weigh In

TLN has been the topic of a number of recent analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $499.00 price objective on shares of Talen Energy in a research note on Thursday, May 21st. BNP Paribas Exane initiated coverage on Talen Energy in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price objective on the stock. Wells Fargo & Company boosted their price objective on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. dropped their price objective on Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Finally, Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Talen Energy currently has a consensus rating of “Moderate Buy” and an average target price of $448.58.

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).