New Mexico Educational Retirement Board Invests $4 Million in Talen Energy Corporation $TLN

New Mexico Educational Retirement Board bought a new position in Talen Energy Corporation (NASDAQ:TLN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 9,400 shares of the utilities provider’s stock, valued at approximately $3,999,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amundi acquired a new position in Talen Energy in the first quarter worth approximately $299,000. AQR Capital Management LLC acquired a new stake in shares of Talen Energy during the 1st quarter valued at $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Talen Energy by 11.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock valued at $1,454,000 after acquiring an additional 761 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Talen Energy by 17,400.0% during the 1st quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock worth $175,000 after acquiring an additional 870 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Talen Energy by 15.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock worth $9,794,000 after acquiring an additional 6,498 shares in the last quarter. 0.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TLN shares. Morgan Stanley set a $474.00 target price on Talen Energy in a research report on Friday, February 20th. Wells Fargo & Company increased their price target on Talen Energy from $445.00 to $506.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Barclays dropped their price target on Talen Energy from $457.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 11th. BNP Paribas Exane assumed coverage on Talen Energy in a report on Wednesday. They set an “outperform” rating and a $548.00 price objective on the stock. Finally, Weiss Ratings cut shares of Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, February 27th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Talen Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $439.92.

Talen Energy Price Performance

Shares of NASDAQ:TLN opened at $338.60 on Thursday. The company’s fifty day moving average is $356.72 and its two-hundred day moving average is $379.60. The company has a market cap of $15.47 billion, a P/E ratio of -68.54, a price-to-earnings-growth ratio of 0.47 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 quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 6.20.

Talen Energy Company 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).