BNP Paribas Financial Markets Boosts Stock Holdings in Talen Energy Corporation $TLN

BNP Paribas Financial Markets grew its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 51.2% during the 4th quarter, HoldingsChannel reports. The fund owned 315,497 shares of the utilities provider’s stock after buying an additional 106,840 shares during the period. BNP Paribas Financial Markets’ holdings in Talen Energy were worth $118,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp boosted its position in Talen Energy by 88.2% during the third 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 period. Norges Bank purchased a new stake in Talen Energy during the fourth quarter valued at about $225,930,000. Invesco Ltd. boosted its position in Talen Energy by 77.5% during the third 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 period. Voloridge Investment Management LLC boosted its position in Talen Energy by 475.3% during the third quarter. Voloridge Investment Management LLC now owns 259,475 shares of the utilities provider’s stock valued at $110,375,000 after buying an additional 214,371 shares during the period. Finally, Palestra Capital Management LLC purchased a new stake in Talen Energy during the third quarter valued at about $81,486,000. Hedge funds and other institutional investors 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 current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. The firm has a 50-day moving average of $348.10 and a 200-day moving average of $358.58. The firm has a market cap of $17.56 billion, a P/E ratio of -577.30 and a beta of 1.81. Talen Energy Corporation has a 1-year low of $239.20 and a 1-year high of $451.28.

Analysts Set New Price Targets

TLN has been the subject of several analyst reports. Wells Fargo & Company upped their price target on shares of Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. BNP Paribas Exane initiated coverage on shares of Talen Energy in a research report on Wednesday, March 18th. They set an “outperform” rating and a $548.00 price target for the company. JPMorgan Chase & Co. cut their price target on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley restated an “overweight” rating and set a $499.00 price target on shares of Talen Energy in a research report on Thursday, May 21st. Twelve 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.com, the company has an average rating of “Moderate Buy” and a consensus target price 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).