Thornburg Investment Management Inc. Decreases Stock Holdings in Talen Energy Corporation $TLN

Thornburg Investment Management Inc. trimmed its position in Talen Energy Corporation (NASDAQ:TLN) by 5.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 37,231 shares of the utilities provider’s stock after selling 2,029 shares during the period. Thornburg Investment Management Inc.’s holdings in Talen Energy were worth $13,956,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Talen Energy by 2.7% in the third quarter. Vanguard Group Inc. now owns 4,523,159 shares of the utilities provider’s stock worth $1,924,061,000 after buying an additional 117,266 shares during the period. Reaves W H & Co. Inc. increased its stake in shares of Talen Energy by 7.9% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock worth $570,393,000 after buying an additional 111,160 shares during the period. State Street Corp increased its stake in shares of Talen Energy by 88.2% in the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after buying an additional 627,467 shares during the period. Lone Pine Capital LLC increased its stake in shares of Talen Energy by 9.5% in the third quarter. Lone Pine Capital LLC now owns 1,192,516 shares of the utilities provider’s stock worth $507,272,000 after buying an additional 103,136 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Talen Energy by 77.5% in the third quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock worth $452,189,000 after buying an additional 464,014 shares during the period. 0.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. 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 note on Tuesday, May 19th. Morgan Stanley reiterated an “overweight” rating and issued a $499.00 price target on shares of Talen Energy in a report on Thursday, May 21st. Raymond James Financial reiterated an “outperform” rating and issued a $457.00 price target on shares of Talen Energy in a report on Monday, April 27th. BNP Paribas Exane started coverage on shares of Talen Energy in a report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price target on the stock. Finally, Wells Fargo & Company lifted their price target on shares of Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Talen Energy presently has an average rating of “Moderate Buy” and a consensus target price of $448.58.

Talen Energy Stock Performance

NASDAQ:TLN opened at $360.54 on Monday. The stock has a market cap of $16.37 billion, a P/E ratio of -538.11 and a beta of 1.81. The firm’s fifty day simple moving average is $356.99 and its 200 day simple moving average is $358.18. Talen Energy Corporation has a twelve month low of $255.50 and a twelve month high of $451.28. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32.

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).