Thornburg Investment Management Inc. Decreases Holdings in Talen Energy Corporation $TLN

Thornburg Investment Management Inc. trimmed its holdings in Talen Energy Corporation (NASDAQ:TLN) by 11.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 39,260 shares of the utilities provider’s stock after selling 4,879 shares during the quarter. Thornburg Investment Management Inc. owned 0.09% of Talen Energy worth $16,700,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Grove Bank & Trust purchased a new position in Talen Energy in the 3rd quarter worth $32,000. Assetmark Inc. boosted its holdings in Talen Energy by 581.8% during the 3rd quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 64 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in Talen Energy during the 2nd quarter valued at about $27,000. MAI Capital Management boosted its holdings in Talen Energy by 115.7% during 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 during the period. Finally, Optiver Holding B.V. bought a new position in Talen Energy during the 3rd quarter worth approximately $48,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on TLN shares. Barclays lowered their price objective on Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. Morgan Stanley set a $474.00 price objective on shares of Talen Energy in a research report on Friday, February 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Talen Energy in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company increased their price objective on Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $410.92.

Talen Energy Stock Performance

Shares of Talen Energy stock opened at $391.43 on Thursday. Talen Energy Corporation has a 12 month low of $158.08 and a 12 month high of $451.28. The firm has a market capitalization of $17.88 billion, a P/E ratio of 84.73, a P/E/G ratio of 0.57 and a beta of 1.98. The company has a current ratio of 2.29, a quick ratio of 1.72 and a debt-to-equity ratio of 2.02. The business has a fifty day simple moving average of $369.97 and a two-hundred day simple moving average of $383.44.

Talen Energy 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).