Atika Capital Management LLC Purchases 9,500 Shares of Talen Energy Corporation $TLN

Key Points

• Atika Capital raised its stake in Talen Energy by 15.9% in Q3, buying 9,500 shares to hold 69,300 shares (about $29.48 million), making TLN its 12th-largest holding.
• Several other institutional investors also increased positions—notably Reaves W H & Co (+158,047 shares), Bank of New York Mellon (+57.3% to 376,562 shares) and Principal Financial (+2,067.8% to 101,452 shares)—indicating growing institutional accumulation.
• Analysts are generally positive with an average rating of “Moderate Buy” and a mean price target of $430.09; price targets range widely (Wells Fargo $506, Barclays $425, Morgan Stanley $474) while TLN trades near $316 with a market cap of $14.45B and a negative P/E.

Atika Capital Management LLC raised its position in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 15.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,300 shares of the utilities provider's stock after purchasing an additional 9,500 shares during the quarter. Talen Energy accounts for approximately 2.4% of Atika Capital Management LLC's holdings, making the stock its 12th biggest holding. Atika Capital Management LLC owned approximately 0.15% of Talen Energy worth $29,479,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. grew its position 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 valued at $145,870,000 after acquiring an additional 5,389 shares during the last quarter. Reaves W H & Co. Inc. lifted 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 worth $600,014,000 after purchasing an additional 158,047 shares during the last quarter. Mutual Advisors LLC purchased a new stake in shares of Talen Energy during the third quarter valued at $2,485,000. Principal Financial Group Inc. boosted its stake in shares of Talen Energy by 2,067.8% during the third quarter. Principal Financial Group Inc. now owns 101,452 shares of the utilities provider's stock valued at $43,156,000 after purchasing an additional 96,772 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Talen Energy by 57.3% in 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 purchasing an additional 137,182 shares during the last quarter. Institutional investors own 0.38% of the company's stock.

Talen Energy Stock Performance

TLN stock opened at $316.22 on Thursday. Talen Energy Corporation has a 1-year low of $162.31 and a 1-year high of $451.28. The business has a 50-day moving average price of $363.20 and a 200 day moving average price of $381.50. The company has a market capitalization of $14.45 billion, a P/E ratio of -64.01, a PEG ratio of 0.49 and a beta of 1.94. The company has a debt-to-equity ratio of 6.20, a current ratio of 1.28 and a quick ratio of 1.02.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company raised 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. Weiss Ratings cut shares of Talen Energy from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, February 27th. Barclays dropped 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. Finally, Morgan Stanley set a $474.00 target price on shares of Talen Energy in a research report on Friday, February 20th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $430.09.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.