Public Sector Pension Investment Board Purchases New Stake in Talen Energy Corporation $TLN

Public Sector Pension Investment Board acquired a new position in Talen Energy Corporation (NASDAQ:TLN) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 70,000 shares of the utilities provider’s stock, valued at approximately $29,777,000.

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

Talen Energy Stock Up 2.4%

Shares of Talen Energy stock opened at $376.70 on Friday. The company has a market capitalization of $17.21 billion, a P/E ratio of 81.54, a price-to-earnings-growth ratio of 0.55 and a beta of 1.98. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.29 and a quick ratio of 1.72. The business has a 50-day moving average of $366.57 and a two-hundred day moving average of $383.22. Talen Energy Corporation has a 1 year low of $158.08 and a 1 year high of $451.28.

Analyst Upgrades and Downgrades

TLN has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Talen Energy from $432.00 to $442.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Wells Fargo & Company upped their price objective on Talen Energy from $445.00 to $506.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Weiss Ratings restated a “hold (c)” rating on shares of Talen Energy in a report on Wednesday, January 21st. Barclays decreased their target price on Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Morgan Stanley upped their price target on Talen Energy from $443.00 to $470.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Talen Energy presently has an average rating of “Moderate Buy” and an average price target of $410.58.

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).