Talen Energy Corporation $TLN Shares Acquired by Truist Financial Corp

Truist Financial Corp increased its holdings in Talen Energy Corporation (NASDAQ:TLN) by 32.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,030 shares of the utilities provider’s stock after buying an additional 1,708 shares during the quarter. Truist Financial Corp’s holdings in Talen Energy were worth $2,635,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new position in Talen Energy in the 4th quarter worth approximately $27,000. Assetmark Inc. grew its holdings in Talen Energy by 581.8% in the 3rd quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock worth $32,000 after buying an additional 64 shares in the last quarter. Neo Ivy Capital Management bought a new position in Talen Energy in the 3rd quarter worth approximately $34,000. Advisory Services Network LLC bought a new position in Talen Energy in the 3rd quarter worth approximately $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Talen Energy in the 4th quarter worth approximately $39,000. 0.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TLN has been the subject of a number of recent analyst reports. Morgan Stanley set a $498.00 price objective on Talen Energy in a report on Friday, May 1st. BNP Paribas Exane initiated 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. decreased their price target on Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. Barclays decreased their price target on Talen Energy from $425.00 to $408.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a research note on Monday, April 27th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Talen Energy presently has a consensus rating of “Moderate Buy” and an average price target of $448.25.

Talen Energy Stock Performance

Shares of NASDAQ TLN opened at $374.61 on Wednesday. Talen Energy Corporation has a 1 year low of $232.34 and a 1 year high of $451.28. The stock has a fifty day moving average price of $340.43 and a two-hundred day moving average price of $362.08. The firm has a market cap of $17.01 billion, a P/E ratio of -559.11 and a beta of 1.90. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25.

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).