First Trust Advisors LP Raises Stock Position in Talen Energy Corporation $TLN

First Trust Advisors LP grew its holdings in Talen Energy Corporation (NASDAQ:TLN) by 95.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,327 shares of the utilities provider’s stock after acquiring an additional 39,810 shares during the period. First Trust Advisors LP owned about 0.18% of Talen Energy worth $34,595,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in TLN. American Century Companies Inc. boosted its stake in Talen Energy by 1.6% in the 3rd quarter. American Century Companies Inc. now owns 342,914 shares of the utilities provider’s stock worth $145,870,000 after purchasing an additional 5,389 shares during the period. Reaves W H & Co. Inc. raised its position in shares of Talen Energy by 12.6% during the third quarter. Reaves W H & Co. Inc. now owns 1,410,537 shares of the utilities provider’s stock valued at $600,014,000 after buying an additional 158,047 shares during the last quarter. Mutual Advisors LLC bought a new stake in shares of Talen Energy during the third quarter valued at approximately $2,485,000. Principal Financial Group Inc. lifted its holdings in shares of Talen Energy by 2,067.8% in the third quarter. Principal Financial Group Inc. now owns 101,452 shares of the utilities provider’s stock worth $43,156,000 after buying an additional 96,772 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Talen Energy by 57.3% during the third quarter. Bank of New York Mellon Corp now owns 376,562 shares of the utilities provider’s stock worth $160,182,000 after acquiring an additional 137,182 shares during the last quarter. Institutional investors own 0.38% of the company’s stock.

Talen Energy Trading Down 1.5%

TLN stock opened at $311.45 on Friday. The firm has a fifty day moving average price of $361.93 and a 200 day moving average price of $381.01. Talen Energy Corporation has a fifty-two week low of $162.31 and a fifty-two week high of $451.28. The firm has a market cap of $14.23 billion, a PE ratio of -63.05, a price-to-earnings-growth ratio of 0.46 and a beta of 1.94. The company has a debt-to-equity ratio of 6.20, a quick ratio of 1.02 and a current ratio of 1.28.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Barclays cut their target price on shares of Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. Wells Fargo & Company boosted their price target on shares of Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Morgan Stanley set a $474.00 price objective on shares of Talen Energy in a report on Friday, February 20th. Finally, Weiss Ratings lowered Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, February 27th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Talen Energy currently has an average rating of “Moderate Buy” and an average target price of $430.09.

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).