Talen Energy Corporation $TLN Shares Purchased by Eventide Asset Management LLC

Eventide Asset Management LLC boosted its position in Talen Energy Corporation (NASDAQ:TLN) by 11.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,596 shares of the utilities provider’s stock after buying an additional 12,837 shares during the quarter. Eventide Asset Management LLC owned 0.27% of Talen Energy worth $46,731,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Entropy Technologies LP lifted its holdings in Talen Energy by 5.0% in the 4th quarter. Entropy Technologies LP now owns 7,117 shares of the utilities provider’s stock worth $2,668,000 after buying an additional 341 shares in the last quarter. Barclays PLC lifted its holdings in Talen Energy by 13.3% in the 4th quarter. Barclays PLC now owns 114,923 shares of the utilities provider’s stock worth $43,078,000 after buying an additional 13,461 shares in the last quarter. Brown Advisory Inc. lifted its holdings in Talen Energy by 3.2% in the 4th quarter. Brown Advisory Inc. now owns 157,607 shares of the utilities provider’s stock worth $59,078,000 after buying an additional 4,821 shares in the last quarter. Bornite Capital Management LP lifted its holdings in Talen Energy by 32.1% in the 4th quarter. Bornite Capital Management LP now owns 206,000 shares of the utilities provider’s stock worth $77,217,000 after buying an additional 50,000 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Talen Energy in the 4th quarter worth $61,019,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Stock Performance

Shares of Talen Energy stock opened at $360.54 on Friday. The firm has a market cap of $16.37 billion, a PE ratio of -538.11 and a beta of 1.80. The firm’s 50-day simple moving average is $356.99 and its 200-day simple moving average is $358.33. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. Talen Energy Corporation has a 1 year low of $255.50 and a 1 year high of $451.28.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a report on Thursday, March 19th. 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. BNP Paribas Exane started coverage on shares of Talen Energy in a report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price objective on the stock. Barclays upped their target price on shares of Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Finally, Morgan Stanley restated an “overweight” rating and issued a $499.00 target price on shares of Talen Energy in a research note on Thursday, May 21st. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Talen Energy currently has an average rating of “Moderate Buy” and a consensus price target of $448.58.

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).