Jennison Associates LLC Raises Position in Talen Energy Corporation $TLN

Jennison Associates LLC increased its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 86.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 281,659 shares of the utilities provider’s stock after buying an additional 130,773 shares during the quarter. Jennison Associates LLC owned 0.62% of Talen Energy worth $119,812,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. MAI Capital Management grew its stake in shares of Talen Energy by 115.7% in the 2nd quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 59 shares in the last quarter. Main Management ETF Advisors LLC boosted its holdings in Talen Energy by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 3,665 shares of the utilities provider’s stock worth $1,066,000 after purchasing an additional 60 shares during the last quarter. Wedbush Securities Inc. grew its position in Talen Energy by 4.8% in the 2nd quarter. Wedbush Securities Inc. now owns 1,379 shares of the utilities provider’s stock worth $401,000 after purchasing an additional 63 shares in the last quarter. Grove Bank & Trust purchased a new stake in Talen Energy in the 3rd quarter valued at about $32,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in Talen Energy in the 2nd quarter valued at about $27,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Price Performance

Shares of NASDAQ:TLN opened at $366.43 on Friday. The firm has a market capitalization of $16.74 billion, a PE ratio of 79.31, a P/E/G ratio of 0.57 and a beta of 1.97. The company has a quick ratio of 1.72, a current ratio of 2.29 and a debt-to-equity ratio of 2.02. The company has a 50-day moving average price of $374.12 and a two-hundred day moving average price of $377.97. Talen Energy Corporation has a twelve month low of $158.08 and a twelve month high of $451.28.

Talen Energy (NASDAQ:TLN) last posted its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.01 by $0.24. The company had revenue of $812.00 million for the quarter, compared to analyst estimates of $707.90 million. Talen Energy had a net margin of 9.83% and a return on equity of 13.52%. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.16 earnings per share. Equities analysts forecast that Talen Energy Corporation will post 15.94 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a research note on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Talen Energy in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Talen Energy from $432.00 to $442.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Morgan Stanley raised their target price on Talen Energy from $443.00 to $470.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Finally, Barclays lifted their target price on Talen Energy from $439.00 to $457.00 and gave the stock an “overweight” rating in a research note on Friday, January 9th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Talen Energy presently has a consensus rating of “Moderate Buy” and an average price target of $400.92.

Talen Energy 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).