ING Groep NV Invests $11.55 Million in Talen Energy Corporation $TLN

ING Groep NV bought a new position in Talen Energy Corporation (NASDAQ:TLN) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 30,800 shares of the utilities provider’s stock, valued at approximately $11,545,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new position in Talen Energy during the 4th quarter valued at approximately $27,000. Assetmark Inc. increased its position in Talen Energy by 581.8% during the 3rd quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock valued at $32,000 after buying an additional 64 shares in the last quarter. Neo Ivy Capital Management bought a new position in Talen Energy during the 3rd quarter valued at approximately $34,000. Advisory Services Network LLC bought a new position in Talen Energy during the 3rd quarter valued at approximately $35,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Talen Energy by 1,500.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock valued at $36,000 after buying an additional 90 shares in the last quarter. Institutional investors own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TLN. Morgan Stanley reaffirmed an “overweight” rating and set a $499.00 price objective on shares of Talen Energy in a research report on Thursday, May 21st. Wells Fargo & Company raised their price objective on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Barclays raised their price objective on Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Raymond James Financial reaffirmed an “outperform” rating and set a $457.00 price objective on shares of Talen Energy in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. reduced their price objective on Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Talen Energy presently has an average rating of “Moderate Buy” and an average target price of $448.58.

Talen Energy Price Performance

Talen Energy stock opened at $364.74 on Monday. The firm has a market cap of $16.56 billion, a price-to-earnings ratio of -544.38 and a beta of 1.81. The stock has a fifty day simple moving average of $353.84 and a two-hundred day simple moving average of $358.99. Talen Energy Corporation has a 12 month low of $246.95 and a 12 month high of $451.28. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32.

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).