Pictet Asset Management Holding SA Sells 73,124 Shares of Talen Energy Corporation $TLN

Pictet Asset Management Holding SA decreased its position in Talen Energy Corporation (NASDAQ:TLN) by 26.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 200,323 shares of the utilities provider’s stock after selling 73,124 shares during the period. Pictet Asset Management Holding SA owned about 0.42% of Talen Energy worth $62,639,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Formidable Asset Management LLC increased its stake in shares of Talen Energy by 20.1% in the 3rd quarter. Formidable Asset Management LLC now owns 5,517 shares of the utilities provider’s stock valued at $1,725,000 after purchasing an additional 922 shares in the last quarter. Alps Advisors Inc. boosted its position in Talen Energy by 9.6% during the third quarter. Alps Advisors Inc. now owns 7,878 shares of the utilities provider’s stock worth $2,463,000 after purchasing an additional 691 shares in the last quarter. CenterBook Partners LP grew its holdings in Talen Energy by 106.7% in the third quarter. CenterBook Partners LP now owns 46,080 shares of the utilities provider’s stock valued at $14,409,000 after purchasing an additional 23,783 shares during the period. Heritage Family Offices LLP acquired a new stake in Talen Energy in the third quarter valued at approximately $36,000. Finally, ACR Alpine Capital Research LLC grew its holdings in Talen Energy by 41.5% in the third quarter. ACR Alpine Capital Research LLC now owns 9,200 shares of the utilities provider’s stock valued at $2,877,000 after purchasing an additional 2,700 shares during the period. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Trading Up 7.2%

TLN stock opened at $363.13 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 5.95. Talen Energy Corporation has a 12-month low of $279.77 and a 12-month high of $449.84. The stock has a market cap of $15.80 billion, a price-to-earnings ratio of -65.55 and a beta of 1.77. The business’s 50-day moving average is $328.55 and its 200 day moving average is $348.39.

Talen Energy (NASDAQ:TLN) last announced its earnings results on Tuesday, November 3rd. The utilities provider reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $8.33 by ($5.45). The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.30 billion. Talen Energy had a negative net margin of 6.43% and a positive return on equity of 53.70%. During the same period in the previous year, the company earned $4.25 EPS. On average, sell-side analysts anticipate that Talen Energy Corporation will post 15.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wells Fargo & Company reduced their target price on Talen Energy from $501.00 to $479.00 and set an “overweight” rating for the company in a research note on Wednesday, October 28th. The Goldman Sachs Group reissued a “buy” rating and issued a $509.00 price target on shares of Talen Energy in a research note on Monday, August 10th. Weiss Ratings cut shares of Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 18th. Canadian Imperial Bank of Commerce cut their price target on shares of Talen Energy from $499.00 to $493.00 and set an “outperform” rating for the company in a report on Wednesday, October 28th. Finally, Morgan Stanley reduced their price objective on shares of Talen Energy from $514.00 to $504.00 and set an “overweight” rating for the company in a research report on Wednesday, October 21st. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $458.69.

Talen Energy Company Profile

Talen Energy Corporation is an independent power producer that owns and operates electricity-generation facilities in the United States. Its portfolio includes nuclear, natural gas, coal, oil and hydroelectric assets, with the Susquehanna nuclear power plant in Pennsylvania among its major facilities.

The company sells electricity and related products, including capacity and ancillary services, primarily through wholesale power markets. Its operations are concentrated in the Mid-Atlantic region served by PJM Interconnection, with additional generation assets in other U.S.