Capital Research Global Investors Sells 36,057 Shares of Talen Energy Corporation $TLN

Capital Research Global Investors reduced its stake in Talen Energy Corporation (NASDAQ:TLN) by 9.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 335,377 shares of the utilities provider’s stock after selling 36,057 shares during the quarter. Capital Research Global Investors owned approximately 0.73% of Talen Energy worth $125,713,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TLN. State Street Corp raised its holdings in Talen Energy by 88.2% in 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 period. Norges Bank bought a new position in Talen Energy in the 4th quarter worth $225,930,000. Invesco Ltd. raised its holdings in Talen Energy by 77.5% in 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 period. Deltroit Asset Management UK LLP bought a new position in Talen Energy in the 4th quarter worth $103,081,000. Finally, Voloridge Investment Management LLC raised its holdings in Talen Energy by 475.3% in 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 period. 0.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on TLN. JPMorgan Chase & Co. decreased their target price on Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a report on Thursday, March 19th. Wells Fargo & Company increased their price target on Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. BNP Paribas Exane assumed coverage on Talen Energy in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price target for the company. Raymond James Financial reiterated an “outperform” rating and issued a $457.00 price target on shares of Talen Energy in a research note on Monday, April 27th. Finally, Barclays increased their price target on Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 19th. 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, the company has a consensus rating of “Moderate Buy” and an average price target of $448.58.

Talen Energy Trading Up 0.0%

Shares of TLN stock opened at $364.78 on Tuesday. Talen Energy Corporation has a 52-week low of $246.95 and a 52-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 firm has a market capitalization of $16.56 billion, a PE ratio of -544.44 and a beta of 1.81. The stock has a fifty day simple moving average of $354.67 and a two-hundred day simple moving average of $358.92.

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).