Talen Energy Corporation $TLN Stake Lowered by State of Wyoming

State of Wyoming trimmed its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 47.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,862 shares of the utilities provider’s stock after selling 1,650 shares during the period. State of Wyoming’s holdings in Talen Energy were worth $698,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Crescent Grove Advisors LLC lifted its position in Talen Energy by 45.8% during the 4th quarter. Crescent Grove Advisors LLC now owns 1,564 shares of the utilities provider’s stock worth $586,000 after acquiring an additional 491 shares during the last quarter. AXQ Capital LP bought a new stake in Talen Energy in the fourth quarter valued at about $2,035,000. BW Gestao de Investimentos Ltda. bought a new stake in Talen Energy in the fourth quarter valued at about $21,770,000. Reaves W H & Co. Inc. increased its stake in Talen Energy by 7.9% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock valued at $570,393,000 after acquiring an additional 111,160 shares during the period. Finally, Florida Financial Advisors LLC increased its stake in Talen Energy by 28.1% in the fourth quarter. Florida Financial Advisors LLC now owns 2,344 shares of the utilities provider’s stock valued at $879,000 after acquiring an additional 514 shares during the period. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Talen Energy Stock Down 0.4%

Talen Energy stock opened at $378.08 on Friday. The company has a market cap of $17.16 billion, a P/E ratio of -564.29 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 company has a fifty day simple moving average of $353.11 and a 200 day simple moving average of $359.02. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TLN shares. JPMorgan Chase & Co. lowered their target price on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Raymond James Financial reiterated an “outperform” rating and set a $457.00 target price on shares of Talen Energy in a research report on Monday, April 27th. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. BNP Paribas Exane initiated coverage on shares of Talen Energy in a report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price objective on the stock. Finally, Barclays increased their price objective on shares of Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Twelve investment 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 currently has an average rating of “Moderate Buy” and an average target price of $448.58.

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).