Norges Bank Purchases New Shares in Talen Energy Corporation $TLN

Norges Bank purchased a new stake in Talen Energy Corporation (NASDAQ:TLN) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 602,736 shares of the utilities provider’s stock, valued at approximately $225,930,000.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in Talen Energy by 1.6% in the 3rd quarter. American Century Companies Inc. now owns 342,914 shares of the utilities provider’s stock valued at $145,870,000 after purchasing an additional 5,389 shares during the period. Mutual Advisors LLC acquired a new position in Talen Energy in the 3rd quarter valued at $2,485,000. Reaves W H & Co. Inc. raised its holdings in Talen Energy by 12.6% in the 3rd quarter. Reaves W H & Co. Inc. now owns 1,410,537 shares of the utilities provider’s stock valued at $600,014,000 after acquiring an additional 158,047 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Talen Energy by 1,526.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,054 shares of the utilities provider’s stock valued at $9,766,000 after acquiring an additional 24,452 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Talen Energy by 2,067.8% in the 3rd quarter. Principal Financial Group Inc. now owns 101,452 shares of the utilities provider’s stock valued at $43,156,000 after acquiring an additional 96,772 shares in the last quarter. 0.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on TLN shares. Barclays lifted their price objective on Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Raymond James Financial reaffirmed an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a report on Monday, April 27th. BNP Paribas Exane started 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. JPMorgan Chase & Co. dropped their price objective on Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a report on Thursday, March 19th. Finally, Morgan Stanley reissued an “overweight” rating and set a $499.00 price target on shares of Talen Energy in a report on Thursday, May 21st. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $448.58.

Talen Energy Trading Up 2.2%

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

Talen Energy Company 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).