Retirement Systems of Alabama Takes Position in Talen Energy Corporation $TLN

Retirement Systems of Alabama acquired a new position in Talen Energy Corporation (NASDAQ:TLN) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 55,236 shares of the utilities provider’s stock, valued at approximately $23,496,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TLN. Whittier Trust Co. boosted its holdings in Talen Energy by 1.6% during the third quarter. Whittier Trust Co. now owns 34,101 shares of the utilities provider’s stock worth $14,953,000 after buying an additional 553 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Talen Energy during the 3rd quarter valued at $623,000. Jennison Associates LLC lifted its position in shares of Talen Energy by 86.7% during the 3rd quarter. Jennison Associates LLC now owns 281,659 shares of the utilities provider’s stock valued at $119,812,000 after acquiring an additional 130,773 shares during the last quarter. Strs Ohio boosted its stake in shares of Talen Energy by 328.5% during the 3rd quarter. Strs Ohio now owns 27,085 shares of the utilities provider’s stock worth $11,521,000 after acquiring an additional 20,764 shares in the last quarter. Finally, Covestor Ltd acquired a new position in shares of Talen Energy in the 3rd quarter worth $282,000. 0.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Morgan Stanley lifted their price target on Talen Energy from $443.00 to $470.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. JPMorgan Chase & Co. boosted their price objective on Talen Energy from $432.00 to $442.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Talen Energy in a research note on Wednesday, January 21st. Finally, Barclays raised their target price on shares of Talen Energy from $439.00 to $457.00 and gave the stock an “overweight” rating in a report on Friday, January 9th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Talen Energy currently has an average rating of “Moderate Buy” and a consensus price target of $400.92.

Talen Energy Trading Down 4.4%

Shares of NASDAQ TLN opened at $350.41 on Tuesday. Talen Energy Corporation has a one year low of $158.08 and a one year high of $451.28. The firm has a market capitalization of $16.01 billion, a PE ratio of 75.85, a PEG ratio of 0.55 and a beta of 1.97. The company has a current ratio of 2.29, a quick ratio of 1.72 and a debt-to-equity ratio of 2.02. The business has a 50-day moving average price of $373.76 and a two-hundred day moving average price of $380.00.

Talen Energy (NASDAQ:TLN) last issued its earnings results on Wednesday, November 5th. The utilities provider reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. The company had revenue of $812.00 million for the quarter, compared to the consensus estimate of $707.90 million. Talen Energy had a return on equity of 13.52% and a net margin of 9.83%.The firm’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.16 EPS. As a group, analysts predict that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.

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).