Thornburg Investment Management Inc. Sells 4,879 Shares of Talen Energy Corporation $TLN

Thornburg Investment Management Inc. trimmed its stake in Talen Energy Corporation (NASDAQ:TLN) by 11.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 39,260 shares of the utilities provider’s stock after selling 4,879 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Talen Energy were worth $16,700,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Talen Energy in the 2nd quarter worth about $168,188,000. State Street Corp lifted its stake in shares of Talen Energy by 151.0% in the second quarter. State Street Corp now owns 711,231 shares of the utilities provider’s stock worth $206,805,000 after buying an additional 427,910 shares in the last quarter. Third Point LLC lifted its stake in shares of Talen Energy by 34.2% in the second quarter. Third Point LLC now owns 785,000 shares of the utilities provider’s stock worth $228,254,000 after buying an additional 200,000 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Talen Energy by 179.9% during the second quarter. JPMorgan Chase & Co. now owns 264,091 shares of the utilities provider’s stock valued at $76,790,000 after buying an additional 169,734 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Talen Energy by 26.1% during the second quarter. Geode Capital Management LLC now owns 794,754 shares of the utilities provider’s stock valued at $231,150,000 after acquiring an additional 164,734 shares in the last quarter. 0.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on TLN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Talen Energy in a research note on Wednesday, January 21st. Barclays decreased their target price on Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. Morgan Stanley set a $474.00 target price on shares of Talen Energy in a research note on Friday, February 20th. Finally, Wells Fargo & Company raised their target price on shares of Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $410.92.

Talen Energy Price Performance

TLN stock opened at $391.43 on Thursday. The company’s fifty day moving average price is $369.97 and its 200-day moving average price is $383.44. Talen Energy Corporation has a one year low of $158.08 and a one year high of $451.28. The company has a market capitalization of $17.88 billion, a PE ratio of 84.73, a price-to-earnings-growth ratio of 0.57 and a beta of 1.98. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.72 and a current ratio of 2.29.

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).