ING Groep NV Buys New Holdings in Talen Energy Corporation $TLN

ING Groep NV acquired a new position in Talen Energy Corporation (NASDAQ:TLN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 30,800 shares of the utilities provider’s stock, valued at approximately $11,545,000. ING Groep NV owned 0.07% of Talen Energy as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Talen Energy by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,523,159 shares of the utilities provider’s stock worth $1,924,061,000 after buying an additional 117,266 shares during the period. Reaves W H & Co. Inc. lifted its holdings in Talen Energy by 7.9% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock worth $570,393,000 after buying an additional 111,160 shares during the period. State Street Corp lifted its holdings in Talen Energy by 88.2% in the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after buying an additional 627,467 shares during the period. Lone Pine Capital LLC lifted its holdings in Talen Energy by 9.5% in the 3rd quarter. Lone Pine Capital LLC now owns 1,192,516 shares of the utilities provider’s stock worth $507,272,000 after buying an additional 103,136 shares during the period. Finally, Invesco Ltd. lifted its holdings in Talen Energy by 77.5% in the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock worth $452,189,000 after buying an additional 464,014 shares during the period. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TLN shares. Morgan Stanley reiterated an “overweight” rating and issued a $499.00 price objective on shares of Talen Energy in a report on Thursday, May 21st. JPMorgan Chase & Co. dropped their price objective on Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a report on Thursday, March 19th. Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Raymond James Financial reiterated an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a report on Monday, April 27th. Finally, BNP Paribas Exane started coverage on Talen Energy in a report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price objective for the company. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $448.58.

Talen Energy Price Performance

Shares of NASDAQ:TLN opened at $364.74 on Monday. Talen Energy Corporation has a 52-week low of $246.95 and a 52-week high of $451.28. The firm has a market capitalization of $16.56 billion, a P/E ratio of -544.38 and a beta of 1.81. The stock has a 50 day moving average price of $353.84 and a 200-day moving average price of $358.99. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25.

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).