Fred Alger Management LLC Acquires 140,345 Shares of Talen Energy Corporation $TLN

Fred Alger Management LLC raised its holdings in Talen Energy Corporation (NASDAQ:TLN) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,804,094 shares of the utilities provider’s stock after purchasing an additional 140,345 shares during the quarter. Talen Energy comprises approximately 2.6% of Fred Alger Management LLC’s portfolio, making the stock its 10th largest holding. Fred Alger Management LLC owned about 3.95% of Talen Energy worth $676,247,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Daiwa Securities Group Inc. increased its stake in Talen Energy by 5.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 671 shares of the utilities provider’s stock valued at $252,000 after purchasing an additional 36 shares during the period. Northwestern Mutual Investment Management Company LLC increased its stake in Talen Energy by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 10,223 shares of the utilities provider’s stock valued at $3,832,000 after purchasing an additional 39 shares during the period. Berbice Capital Management LLC increased its stake in Talen Energy by 19.1% in the fourth quarter. Berbice Capital Management LLC now owns 280 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 45 shares during the period. Red Door Wealth Management LLC increased its stake in Talen Energy by 2.2% in the fourth quarter. Red Door Wealth Management LLC now owns 2,191 shares of the utilities provider’s stock valued at $821,000 after purchasing an additional 47 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Talen Energy by 13.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 475 shares of the utilities provider’s stock valued at $178,000 after purchasing an additional 55 shares during the period. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TLN. Raymond James Financial reiterated an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a research note on Monday, April 27th. Barclays boosted their price target on shares of Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 19th. JPMorgan Chase & Co. dropped their price target on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Wells Fargo & Company boosted their price target on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $448.58.

Talen Energy Stock Up 5.3%

TLN stock opened at $406.51 on Wednesday. The company has a market cap of $18.46 billion, a P/E ratio of -606.72 and a beta of 1.80. Talen Energy Corporation has a 52 week low of $255.50 and a 52 week high of $451.28. The company’s 50-day moving average price is $359.74 and its 200 day moving average price is $358.33. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32.

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).