Capital Research Global Investors Trims Holdings in Talen Energy Corporation $TLN

Capital Research Global Investors reduced its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 371,434 shares of the utilities provider’s stock after selling 9,982 shares during the period. Capital Research Global Investors’ holdings in Talen Energy were worth $158,001,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Grove Bank & Trust acquired a new stake in Talen Energy during the third quarter worth approximately $32,000. Assetmark Inc. raised its holdings in Talen Energy by 581.8% in 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 last quarter. Neo Ivy Capital Management acquired a new position in Talen Energy in the 3rd quarter valued at $34,000. Atlantic Union Bankshares Corp purchased a new position in shares of Talen Energy during the 2nd quarter worth $27,000. Finally, MAI Capital Management lifted its stake in shares of Talen Energy by 115.7% during the 2nd quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Stock Performance

Talen Energy stock opened at $316.22 on Thursday. The company has a market cap of $14.45 billion, a price-to-earnings ratio of -64.01, a price-to-earnings-growth ratio of 0.49 and a beta of 1.94. Talen Energy Corporation has a 12 month low of $162.31 and a 12 month high of $451.28. The company has a debt-to-equity ratio of 6.20, a current ratio of 1.28 and a quick ratio of 1.02. The stock’s 50-day moving average is $363.20 and its 200-day moving average is $381.50.

Analysts Set New Price Targets

TLN has been the subject of a number of recent analyst reports. 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. Wells Fargo & Company raised their price target on Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Morgan Stanley set a $474.00 price target on Talen Energy in a report on Friday, February 20th. Finally, Weiss Ratings downgraded shares of Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Talen Energy currently has an average rating of “Moderate Buy” and a consensus target price of $430.09.

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).