Lone Pine Capital LLC Boosts Stock Position in Talen Energy Corporation $TLN

by · The Markets Daily

Lone Pine Capital LLC raised its holdings in Talen Energy Corporation (NASDAQ:TLN – Free Report) by 9.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,192,516 shares of the utilities provider’s stock after buying an additional 103,136 shares during the period. Talen Energy comprises about 3.7% of Lone Pine Capital LLC’s holdings, making the stock its 14th largest position. Lone Pine Capital LLC’s holdings in Talen Energy were worth $507,272,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Amundi purchased a new position in shares of Talen Energy in the 1st quarter valued at about $299,000. AQR Capital Management LLC acquired a new stake in shares of Talen Energy during the 1st quarter worth about $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Talen Energy by 11.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock worth $1,454,000 after purchasing an additional 761 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Talen Energy by 17,400.0% during the first quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock worth $175,000 after purchasing an additional 870 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Talen Energy by 15.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock valued at $9,794,000 after purchasing an additional 6,498 shares in the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Trading Up 0.5%

NASDAQ:TLN opened at $317.60 on Tuesday. The stock’s 50 day moving average price is $358.76 and its 200 day moving average price is $380.25. The company has a market capitalization of $14.51 billion, a PE ratio of -64.29, a P/E/G ratio of 0.45 and a beta of 1.94. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 6.20. Talen Energy Corporation has a 52-week low of $162.31 and a 52-week high of $451.28.

Analyst Ratings Changes

Several equities analysts have commented on TLN shares. Morgan Stanley set a $474.00 price target on shares of Talen Energy in a research note on Friday, February 20th. Weiss Ratings cut shares of Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, February 27th. Barclays dropped their target price on shares of Talen Energy from $457.00 to $425.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 11th. Finally, Wells Fargo & Company lifted their price target on shares of Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $430.09.

Read Our Latest Analysis on TLN

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).

See Also

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