Thornburg Investment Management Inc. Sells 2,029 Shares of Talen Energy Corporation $TLN

by · The Markets Daily

Thornburg Investment Management Inc. reduced its stake in Talen Energy Corporation (NASDAQ:TLN – Free Report) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,231 shares of the utilities provider’s stock after selling 2,029 shares during the quarter. Thornburg Investment Management Inc. owned about 0.08% of Talen Energy worth $13,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. raised its stake in Talen Energy by 1.6% in the third quarter. American Century Companies Inc. now owns 342,914 shares of the utilities provider’s stock valued at $145,870,000 after purchasing an additional 5,389 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Talen Energy by 1,526.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,054 shares of the utilities provider’s stock valued at $9,766,000 after purchasing an additional 24,452 shares in the last quarter. GF Fund Management CO. LTD. raised its stake in Talen Energy by 76.5% in the third quarter. GF Fund Management CO. LTD. now owns 64,256 shares of the utilities provider’s stock valued at $27,333,000 after purchasing an additional 27,858 shares in the last quarter. Victory Capital Management Inc. raised its stake in Talen Energy by 157.0% in the third quarter. Victory Capital Management Inc. now owns 111,104 shares of the utilities provider’s stock valued at $47,261,000 after purchasing an additional 67,881 shares in the last quarter. Finally, South Dakota Investment Council purchased a new stake in Talen Energy in the third quarter valued at approximately $1,489,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TLN. Raymond James Financial reaffirmed an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a research note on Monday, April 27th. BNP Paribas Exane initiated coverage on shares of Talen Energy in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a report on Thursday, March 19th. Wells Fargo & Company boosted their price objective on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $448.58.

View Our Latest Stock Analysis on TLN

Talen Energy Stock Performance

Shares of TLN opened at $360.54 on Monday. The firm has a market cap of $16.37 billion, a price-to-earnings ratio of -538.11 and a beta of 1.81. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. Talen Energy Corporation has a fifty-two week low of $255.50 and a fifty-two week high of $451.28. The firm has a 50 day moving average price of $356.99 and a 200-day moving average price of $358.18.

Talen Energy Profile

(Free Report)

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).

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