Jennison Associates LLC Takes Position in Talen Energy Corporation (NASDAQ:TLN)

Jennison Associates LLC acquired a new position in Talen Energy Corporation (NASDAQ:TLN) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 576,973 shares of the utilities provider’s stock, valued at approximately $102,840,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. River Road Asset Management LLC acquired a new stake in shares of Talen Energy during the 3rd quarter worth approximately $277,653,000. Yacktman Asset Management LP bought a new position in Talen Energy in the third quarter worth $79,299,000. Mizuho Markets Americas LLC acquired a new stake in Talen Energy during the third quarter worth $33,866,000. Allspring Global Investments Holdings LLC bought a new stake in Talen Energy in the 3rd quarter valued at $29,464,000. Finally, M&G PLC acquired a new position in shares of Talen Energy in the 3rd quarter valued at $14,797,000. Institutional investors own 0.38% of the company’s stock.

Talen Energy Price Performance

Shares of TLN stock opened at $206.09 on Thursday. The stock’s fifty day moving average is $155.30 and its 200-day moving average is $116.38. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10. Talen Energy Corporation has a 52 week low of $53.95 and a 52 week high of $221.14. The stock has a market capitalization of $10.48 billion and a PE ratio of 11.03.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TLN. UBS Group lifted their target price on shares of Talen Energy from $197.00 to $242.00 and gave the company a “buy” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. began coverage on Talen Energy in a research note on Thursday, October 17th. They issued an “overweight” rating and a $268.00 price objective on the stock. Guggenheim raised their target price on Talen Energy from $219.00 to $246.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Oppenheimer boosted their price target on Talen Energy from $165.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Finally, BWS Financial increased their price objective on Talen Energy from $145.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, Talen Energy presently has a consensus rating of “Buy” and an average price target of $210.33.

Talen Energy Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.