American Century Companies Inc. Grows Stake in Talen Energy Corporation $TLN

American Century Companies Inc. increased its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 342,914 shares of the utilities provider’s stock after purchasing an additional 5,389 shares during the quarter. American Century Companies Inc. owned 0.75% of Talen Energy worth $145,870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Atlantic Union Bankshares Corp purchased a new stake in Talen Energy in the second quarter worth about $27,000. MAI Capital Management increased its stake in Talen Energy by 115.7% during the 2nd quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 59 shares in the last quarter. Grove Bank & Trust purchased a new position in shares of Talen Energy in the third quarter worth $32,000. Assetmark Inc. raised its holdings in shares of Talen Energy by 581.8% in the third quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock worth $32,000 after buying an additional 64 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in shares of Talen Energy by 5,100.0% in the second quarter. Golden State Wealth Management LLC now owns 156 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 153 shares during the period. 0.38% of the stock is owned by institutional investors.

Talen Energy Stock Down 4.9%

Shares of Talen Energy stock opened at $370.97 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 6.20. Talen Energy Corporation has a 52-week low of $158.08 and a 52-week high of $451.28. The company has a market capitalization of $16.95 billion, a P/E ratio of -75.09, a P/E/G ratio of 0.56 and a beta of 1.94. The company has a 50 day moving average of $370.31 and a 200 day moving average of $383.54.

Analyst Ratings Changes

Several brokerages have recently issued reports on TLN. Weiss Ratings cut Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday. Morgan Stanley set a $474.00 price target on Talen Energy in a research report on Friday, February 20th. Wells Fargo & Company upped their price objective on shares of Talen Energy from $445.00 to $506.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Finally, Barclays reduced their target price on shares of Talen Energy from $457.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 11th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Talen Energy has an average rating of “Moderate Buy” and a consensus target price of $410.92.

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).