Talen Energy Corporation $TLN Shares Bought by RWC Asset Management LLP

RWC Asset Management LLP boosted its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 34.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 24,541 shares of the utilities provider’s stock after buying an additional 6,344 shares during the quarter. RWC Asset Management LLP’s holdings in Talen Energy were worth $9,199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC acquired a new position in Talen Energy during the fourth quarter worth about $27,000. Assetmark Inc. raised its position in Talen Energy by 581.8% during the third quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 64 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Talen Energy during the third quarter worth about $34,000. Advisory Services Network LLC acquired a new position in Talen Energy during the third quarter worth about $35,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Talen Energy by 1,500.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 90 shares during the last quarter. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Stock Performance

NASDAQ:TLN opened at $364.74 on Monday. The firm has a 50 day simple moving average of $353.84 and a 200-day simple moving average of $358.99. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05. The firm has a market cap of $16.56 billion, a PE ratio of -544.38 and a beta of 1.81. Talen Energy Corporation has a 1-year low of $246.95 and a 1-year high of $451.28.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TLN. BNP Paribas Exane began coverage on shares of Talen Energy in a research report on Wednesday, March 18th. They set an “outperform” rating and a $548.00 target price for the company. Barclays lifted their target price on shares of Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Morgan Stanley reissued an “overweight” rating and issued a $499.00 price objective on shares of Talen Energy in a research report on Thursday, May 21st. Finally, Wells Fargo & Company boosted their price objective on shares of Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Talen Energy has a consensus rating of “Moderate Buy” and an average price target of $448.58.

Talen Energy Company 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).