Assenagon Asset Management S.A. Has $99.03 Million Stock Position in Talen Energy Corporation $TLN

Key Points

• Assenagon Asset Management increased its stake in Talen Energy by 7.2% to 264,193 shares, representing about 0.58% of the company and worth approximately $99.03 million at quarter-end.
• Shares were trading up ~2.7%; Talen Energy has a market cap of $14.12 billion, a negative P/E (-62.96), and a 52-week range of $162.31–$451.28, while hedge funds and other institutional investors own only 0.38% of the stock.
• Analyst consensus is a “Moderate Buy” (12 Buys, 2 Holds, 1 Sell) with an average price target of $438.17, though recent targets and ratings vary from underweight/sell to outperform with targets between ~$421 and $548.

Assenagon Asset Management S.A. grew its position in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 264,193 shares of the utilities provider's stock after purchasing an additional 17,846 shares during the period. Assenagon Asset Management S.A. owned about 0.58% of Talen Energy worth $99,030,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. MAI Capital Management lifted its stake in Talen Energy by 115.7% in the second quarter. MAI Capital Management now owns 110 shares of the utilities provider's stock valued at $32,000 after acquiring an additional 59 shares during the last quarter. Grove Bank & Trust bought a new stake in Talen Energy in the third quarter worth approximately $32,000. Assetmark Inc. increased its stake in shares of Talen Energy by 581.8% during the 3rd quarter. Assetmark Inc. now owns 75 shares of the utilities provider's stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Talen Energy during the 3rd quarter worth $34,000. Finally, Advisory Services Network LLC bought a new position in shares of Talen Energy during the 3rd quarter valued at $35,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Trading Up 2.7%

Shares of NASDAQ:TLN opened at $311.02 on Tuesday. The company has a debt-to-equity ratio of 6.20, a quick ratio of 1.02 and a current ratio of 1.28. The stock's 50-day moving average is $353.88 and its 200-day moving average is $378.34. The company has a market cap of $14.12 billion, a P/E ratio of -62.96, a P/E/G ratio of 0.44 and a beta of 1.94. Talen Energy Corporation has a 52-week low of $162.31 and a 52-week high of $451.28.

Analyst Upgrades and Downgrades

TLN has been the subject of a number of recent research reports. Morgan Stanley set a $474.00 price objective on shares of Talen Energy in a report on Friday, February 20th. Weiss Ratings lowered Talen Energy from a "hold (c)" rating to a "sell (d+)" rating in a report on Friday, February 27th. Barclays reduced their price target on Talen Energy from $457.00 to $425.00 and set an "overweight" rating for the company in a research report on Wednesday, February 11th. BNP Paribas Exane began coverage on Talen Energy in a report on Wednesday, March 18th. They set an "outperform" rating and a $548.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on Talen Energy from $448.00 to $421.00 and set an "overweight" rating on the stock in a report on Thursday, March 19th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $438.17.

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).

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