ProShare Advisors LLC Takes Position in Talen Energy Corporation $TLN

ProShare Advisors LLC acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,944 shares of the utilities provider’s stock, valued at approximately $827,000.

Other large investors have also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp acquired a new position in Talen Energy during the 2nd quarter worth $27,000. MAI Capital Management increased its holdings 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 valued at $32,000 after purchasing an additional 59 shares during the period. Grove Bank & Trust bought a new stake in shares of Talen Energy during the third quarter valued at about $32,000. Golden State Wealth Management LLC lifted its holdings in Talen Energy by 5,100.0% in the second quarter. Golden State Wealth Management LLC now owns 156 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 153 shares during the period. Finally, Berbice Capital Management LLC acquired a new stake in Talen Energy in the second quarter worth about $49,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Stock Performance

Shares of NASDAQ TLN opened at $376.70 on Tuesday. The stock’s fifty day simple moving average is $367.04 and its 200 day simple moving average is $383.44. The stock has a market capitalization of $17.21 billion, a price-to-earnings ratio of 81.54, a PEG ratio of 0.56 and a beta of 1.99. The company has a quick ratio of 1.72, a current ratio of 2.29 and a debt-to-equity ratio of 2.02. Talen Energy Corporation has a 52-week low of $158.08 and a 52-week high of $451.28.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TLN shares. JPMorgan Chase & Co. raised their target price on shares of Talen Energy from $432.00 to $442.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Talen Energy in a report on Wednesday, January 21st. Wells Fargo & Company upped 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. Barclays lowered their price target on Talen Energy from $457.00 to $425.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 11th. Finally, Morgan Stanley boosted their price objective on Talen Energy from $443.00 to $470.00 and gave the stock an “overweight” rating in a research note 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. According to data from MarketBeat.com, Talen Energy currently has a consensus rating of “Moderate Buy” and an average price target of $410.58.

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).