Convergence Investment Partners LLC Buys New Shares in Talen Energy Corporation $TLN

Convergence Investment Partners LLC bought a new stake in Talen Energy Corporation (NASDAQ:TLN) during the fourth quarter, HoldingsChannel reports. The firm bought 3,891 shares of the utilities provider’s stock, valued at approximately $1,459,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Northwestern Mutual Investment Management Company LLC increased its position in shares of Talen Energy by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 10,223 shares of the utilities provider’s stock valued at $3,832,000 after acquiring an additional 39 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Talen Energy by 332,666.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,966 shares of the utilities provider’s stock valued at $7,484,000 after acquiring an additional 19,960 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Talen Energy by 16.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 40,056 shares of the utilities provider’s stock valued at $15,014,000 after acquiring an additional 5,799 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in Talen Energy by 1,446.7% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 9,280 shares of the utilities provider’s stock worth $3,479,000 after buying an additional 8,680 shares during the last quarter. Finally, Swiss Life Asset Management Ltd increased its position in Talen Energy by 51.9% during the fourth quarter. Swiss Life Asset Management Ltd now owns 2,683 shares of the utilities provider’s stock worth $1,006,000 after buying an additional 917 shares during the last quarter. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Price Performance

Talen Energy stock opened at $334.24 on Friday. Talen Energy Corporation has a 12 month low of $232.34 and a 12 month high of $451.28. The stock’s 50 day moving average is $340.57 and its 200-day moving average is $361.27. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. The company has a market capitalization of $15.17 billion, a price-to-earnings ratio of -498.86 and a beta of 1.90.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Raymond James Financial reissued an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a research report on Monday, April 27th. Wells Fargo & Company boosted their price target on Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Morgan Stanley set a $498.00 price target on Talen Energy in a research report on Friday, May 1st. Finally, BNP Paribas Exane assumed coverage on Talen Energy in a research report on Wednesday, March 18th. They set an “outperform” rating and a $548.00 price target on the stock. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $448.25.

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).