Adage Capital Partners GP L.L.C. Reduces Position in Talen Energy Corporation (NASDAQ:TLN)

Adage Capital Partners GP L.L.C. decreased its holdings in Talen Energy Corporation (NASDAQ:TLN) by 45.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,000 shares of the utilities provider’s stock after selling 55,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.13% of Talen Energy worth $13,096,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Talen Energy by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider’s stock worth $964,302,000 after acquiring an additional 256,414 shares during the period. William Blair Investment Management LLC bought a new position in shares of Talen Energy during the 4th quarter valued at $239,984,000. Invesco Ltd. boosted its stake in shares of Talen Energy by 32.8% in the 4th quarter. Invesco Ltd. now owns 652,478 shares of the utilities provider’s stock worth $131,455,000 after buying an additional 161,269 shares during the last quarter. Pictet Asset Management Holding SA bought a new stake in shares of Talen Energy in the fourth quarter worth $101,931,000. Finally, Clearbridge Investments LLC purchased a new stake in Talen Energy during the fourth quarter valued at $88,065,000. Institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Performance

NASDAQ:TLN opened at $211.56 on Monday. The stock has a 50-day moving average price of $201.72 and a 200 day moving average price of $204.09. The stock has a market capitalization of $9.63 billion, a P/E ratio of 11.33, a P/E/G ratio of 2.70 and a beta of 1.93. Talen Energy Corporation has a 12-month low of $98.50 and a 12-month high of $258.03. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TLN. Morgan Stanley assumed coverage on Talen Energy in a research note on Wednesday, March 12th. They set an “overweight” rating and a $243.00 price target for the company. Daiwa Capital Markets set a $200.00 target price on shares of Talen Energy in a report on Wednesday, March 5th. UBS Group dropped their price target on shares of Talen Energy from $275.00 to $259.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Evercore ISI assumed coverage on Talen Energy in a report on Friday, February 21st. They issued an “outperform” rating on the stock. Finally, Barclays cut their price target on Talen Energy from $293.00 to $282.00 and set an “overweight” rating for the company in a report on Tuesday, March 4th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $240.18.

About Talen Energy

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.