Oppenheimer & Co. Inc. Raises Stock Holdings in Talen Energy Corporation $TLN

Oppenheimer & Co. Inc. increased its position in Talen Energy Corporation (NASDAQ:TLN) by 400.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 14,105 shares of the utilities provider’s stock after purchasing an additional 11,287 shares during the period. Oppenheimer & Co. Inc.’s holdings in Talen Energy were worth $5,287,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Talen Energy by 2.7% in the third quarter. Vanguard Group Inc. now owns 4,523,159 shares of the utilities provider’s stock worth $1,924,061,000 after purchasing an additional 117,266 shares during the period. Reaves W H & Co. Inc. grew its stake in Talen Energy by 12.6% in the third quarter. Reaves W H & Co. Inc. now owns 1,410,537 shares of the utilities provider’s stock worth $600,014,000 after purchasing an additional 158,047 shares during the period. State Street Corp grew its stake in Talen Energy by 88.2% in the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after purchasing an additional 627,467 shares during the period. Lone Pine Capital LLC grew its stake in Talen Energy by 9.5% in the third quarter. Lone Pine Capital LLC now owns 1,192,516 shares of the utilities provider’s stock worth $507,272,000 after purchasing an additional 103,136 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Talen Energy by 77.5% in the third quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock worth $452,189,000 after acquiring an additional 464,014 shares during the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Trading Down 0.1%

NASDAQ TLN opened at $372.16 on Friday. Talen Energy Corporation has a 12 month low of $216.20 and a 12 month high of $451.28. The stock has a market cap of $16.90 billion, a P/E ratio of -75.34, a P/E/G ratio of 0.53 and a beta of 1.90. The stock’s fifty day moving average price is $339.39 and its 200-day moving average price is $363.03. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 6.20.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TLN. Barclays cut their target price on Talen Energy from $425.00 to $408.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Morgan Stanley set a $498.00 target price on Talen Energy in a research note on Friday. BNP Paribas Exane began coverage on Talen Energy in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 target price on the stock. Weiss Ratings cut Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. Finally, JPMorgan Chase & Co. cut their target price on Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $450.67.

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).