Northwestern Mutual Wealth Management Co. Has $7.48 Million Stock Holdings in Talen Energy Corporation $TLN

Northwestern Mutual Wealth Management Co. raised its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 332,666.7% in the 4th quarter, HoldingsChannel reports. The firm owned 19,966 shares of the utilities provider’s stock after buying an additional 19,960 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Talen Energy were worth $7,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Red Door Wealth Management LLC lifted its holdings in Talen Energy by 2.2% during the 4th quarter. Red Door Wealth Management LLC now owns 2,191 shares of the utilities provider’s stock valued at $821,000 after purchasing an additional 47 shares during the last quarter. CWM LLC increased its position in Talen Energy by 3.5% during the 4th quarter. CWM LLC now owns 1,680 shares of the utilities provider’s stock worth $630,000 after buying an additional 57 shares during the period. B. Riley Wealth Advisors Inc. increased its position in Talen Energy by 8.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 787 shares of the utilities provider’s stock worth $335,000 after buying an additional 59 shares during the period. Assetmark Inc. increased its position in Talen Energy by 581.8% during the 3rd quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock worth $32,000 after buying an additional 64 shares during the period. Finally, Compound Planning Inc. increased its position in Talen Energy by 8.8% during the 3rd quarter. Compound Planning Inc. now owns 803 shares of the utilities provider’s stock worth $342,000 after buying an additional 65 shares during the period. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Stock Up 3.3%

Shares of NASDAQ TLN opened at $372.45 on Friday. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. Talen Energy Corporation has a 52 week low of $237.35 and a 52 week high of $451.28. The stock has a market capitalization of $16.91 billion, a P/E ratio of -555.89 and a beta of 1.90. The stock’s fifty day moving average is $342.12 and its 200 day moving average is $359.35.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TLN. Barclays increased their price objective on Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research report on Tuesday. Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Wells Fargo & Company increased their price objective on Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. BNP Paribas Exane began coverage on Talen Energy in a research report on Wednesday, March 18th. They set an “outperform” rating and a $548.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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).