Exchange Traded Concepts LLC Raises Stock Holdings in Talen Energy Corporation $TLN

Exchange Traded Concepts LLC increased its stake in Talen Energy Corporation (NASDAQ:TLN) by 16.1% during the 4th quarter, Holdings Channel reports. The firm owned 35,254 shares of the utilities provider’s stock after purchasing an additional 4,885 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Talen Energy were worth $13,215,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its position in Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after purchasing an additional 627,467 shares during the last quarter. Norges Bank bought a new position in shares of Talen Energy in the 2nd quarter worth $168,188,000. Invesco Ltd. increased its holdings in shares of Talen Energy by 77.5% in the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock worth $452,189,000 after buying an additional 464,014 shares during the last quarter. Voloridge Investment Management LLC raised its position in shares of Talen Energy by 475.3% during the 3rd quarter. Voloridge Investment Management LLC now owns 259,475 shares of the utilities provider’s stock valued at $110,375,000 after buying an additional 214,371 shares in the last quarter. Finally, Third Point LLC raised its position in shares of Talen Energy by 34.2% during the 2nd quarter. Third Point LLC now owns 785,000 shares of the utilities provider’s stock valued at $228,254,000 after buying an additional 200,000 shares in the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Price Performance

TLN opened at $324.54 on Friday. The company has a debt-to-equity ratio of 6.20, a current ratio of 1.28 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $348.87 and its 200 day simple moving average is $376.60. The firm has a market cap of $14.73 billion, a price-to-earnings ratio of -65.70, a PEG ratio of 0.45 and a beta of 1.94. Talen Energy Corporation has a 1 year low of $162.31 and a 1 year high of $451.28.

Analyst Ratings Changes

Several research analysts recently issued reports on TLN shares. Wells Fargo & Company upped their target price on shares of Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. lowered their price target on Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Weiss Ratings lowered Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. BNP Paribas Exane began coverage on Talen Energy in a report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price objective for the company. Finally, Barclays reduced their price objective 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. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Talen Energy currently has an average rating of “Moderate Buy” and an average price target of $438.17.

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).