State of Michigan Retirement System Takes Position in Talen Energy Corporation $TLN

State of Michigan Retirement System purchased a new stake in Talen Energy Corporation (NASDAQ:TLN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,900 shares of the utilities provider’s stock, valued at approximately $4,637,000.

Other hedge funds also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp bought a new position in Talen Energy in the 2nd quarter valued at $27,000. MAI Capital Management lifted its stake in Talen Energy by 115.7% in the 2nd quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 59 shares in the last quarter. Grove Bank & Trust bought a new position in Talen Energy in the third quarter valued at approximately $32,000. Golden State Wealth Management LLC increased its position in Talen Energy by 5,100.0% during the second quarter. Golden State Wealth Management LLC now owns 156 shares of the utilities provider’s stock worth $45,000 after buying an additional 153 shares during the last quarter. Finally, Berbice Capital Management LLC bought a new stake in shares of Talen Energy during the 2nd quarter worth about $49,000. 0.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TLN has been the subject of a number of research analyst reports. Barclays upped their price objective on shares of Talen Energy from $439.00 to $457.00 and gave the stock an “overweight” rating in a research report on Friday, January 9th. Morgan Stanley boosted their price target on shares of Talen Energy from $443.00 to $470.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Wells Fargo & Company lifted their target price on Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Talen Energy in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Talen Energy from $432.00 to $442.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $413.25.

Talen Energy Price Performance

NASDAQ:TLN opened at $357.93 on Wednesday. The stock has a fifty day moving average of $366.34 and a 200 day moving average of $383.41. Talen Energy Corporation has a 52-week low of $158.08 and a 52-week high of $451.28. The firm has a market capitalization of $16.35 billion, a price-to-earnings ratio of 77.47, a P/E/G ratio of 0.53 and a beta of 1.98. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.72 and a current ratio of 2.29.

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).