State of Michigan Retirement System Buys Shares of 10,900 Talen Energy Corporation $TLN

State of Michigan Retirement System bought a new stake in shares of Talen Energy Corporation (NASDAQ:TLN) in the third quarter, HoldingsChannel reports. The institutional investor bought 10,900 shares of the utilities provider’s stock, valued at approximately $4,637,000.

Other large investors have also made changes to their positions in the company. Grove Bank & Trust acquired a new stake in Talen Energy in the 3rd quarter worth about $32,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Talen Energy in the second quarter worth approximately $27,000. MAI Capital Management increased its position in shares of Talen Energy by 115.7% during the second quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 59 shares in the last quarter. AdvisorNet Financial Inc raised its stake in Talen Energy by 396.2% in the 3rd quarter. AdvisorNet Financial Inc now owns 129 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 103 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its holdings in Talen Energy by 2,050.0% in the 3rd quarter. CoreCap Advisors LLC now owns 129 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 123 shares in the last quarter. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TLN. JPMorgan Chase & Co. upped their target price on shares of Talen Energy from $432.00 to $442.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Wells Fargo & Company upped their price objective on shares of Talen Energy from $445.00 to $506.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Talen Energy in a report on Wednesday, January 21st. Barclays boosted their target price on Talen Energy from $439.00 to $457.00 and gave the stock an “overweight” rating in a report on Friday, January 9th. Finally, Morgan Stanley increased their price target on Talen Energy from $443.00 to $470.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Talen Energy has a consensus rating of “Moderate Buy” and an average target price of $413.25.

Talen Energy Stock Performance

NASDAQ:TLN opened at $357.93 on Wednesday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.72 and a current ratio of 2.29. The stock has a market capitalization of $16.35 billion, a P/E ratio of 77.47, a PEG ratio of 0.53 and a beta of 1.98. Talen Energy Corporation has a fifty-two week low of $158.08 and a fifty-two week high of $451.28. The company has a 50 day moving average price of $366.34 and a 200 day moving average price of $383.41.

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).