Norges Bank Takes $225.93 Million Position in Talen Energy Corporation $TLN

Norges Bank acquired a new stake in Talen Energy Corporation (NASDAQ:TLN) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 602,736 shares of the utilities provider’s stock, valued at approximately $225,930,000. Norges Bank owned about 1.32% of Talen Energy at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

TLN has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. reduced their price target 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. Raymond James Financial restated an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a research note on Monday, April 27th. 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. Finally, BNP Paribas Exane began coverage on Talen Energy in a research note on Wednesday, March 18th. They set an “outperform” rating and a $548.00 target price for the company. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $448.58.

Talen Energy Stock Up 2.2%

TLN stock opened at $385.51 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. The firm has a market capitalization of $17.50 billion, a PE ratio of -575.38 and a beta of 1.80. Talen Energy Corporation has a 1-year low of $246.95 and a 1-year high of $451.28. The business’s 50 day simple moving average is $348.84 and its 200 day simple moving average is $358.60.

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).