Talen Energy Corporation $TLN Position Increased by Eventide Asset Management LLC

Eventide Asset Management LLC raised its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 11.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 124,596 shares of the utilities provider’s stock after purchasing an additional 12,837 shares during the quarter. Eventide Asset Management LLC’s holdings in Talen Energy were worth $46,731,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Entropy Technologies LP boosted its holdings in Talen Energy by 5.0% during the fourth 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 boosted its holdings in Talen Energy by 13.3% during the fourth 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. boosted its holdings in Talen Energy by 3.2% during the fourth 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 boosted its holdings in Talen Energy by 32.1% during the fourth 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 bought a new stake in Talen Energy during the fourth quarter worth approximately $61,019,000. 0.38% of the stock is currently owned by institutional investors.

Talen Energy Price Performance

TLN opened at $360.54 on Friday. The stock has a market cap of $16.37 billion, a price-to-earnings ratio of -538.11 and a beta of 1.80. The stock has a fifty day moving average price of $356.99 and a 200 day moving average price of $358.33. 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 Corporation has a 1 year low of $255.50 and a 1 year high of $451.28.

Analyst Ratings Changes

Several brokerages recently commented on TLN. Wells Fargo & Company upped their price target on shares of Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. BNP Paribas Exane began coverage on shares of Talen Energy in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price target for the company. Morgan Stanley restated an “overweight” rating and issued a $499.00 price target on shares of Talen Energy in a research report on Thursday, May 21st. JPMorgan Chase & Co. reduced their price target on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Finally, Barclays upped their price target on shares of Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Talen Energy has a consensus rating of “Moderate Buy” and an average price target of $448.58.

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).