Exchange Traded Concepts LLC Increases Stake in Talen Energy Corporation $TLN

Key Points

• Exchange Traded Concepts LLC raised its Q4 stake in Talen Energy by 16.1%, now owning 35,254 shares worth about $13.22 million, roughly 0.08% of the company.
• Institutional ownership of TLN is very low — only about 0.38% is held by hedge funds and other institutional investors, though several small managers added or initiated positions recently.
• Wall Street sentiment is broadly positive with a consensus rating of Moderate Buy (12 Buys, 2 Holds, 1 Sell) and a consensus target of $438.17 versus a recent trading level near $324.54.

Exchange Traded Concepts LLC boosted its position in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 16.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 35,254 shares of the utilities provider's stock after acquiring an additional 4,885 shares during the period. Exchange Traded Concepts LLC owned 0.08% of Talen Energy worth $13,215,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TLN. MAI Capital Management increased its stake in shares of Talen Energy by 115.7% in the second quarter. MAI Capital Management now owns 110 shares of the utilities provider's stock worth $32,000 after purchasing an additional 59 shares in the last quarter. Grove Bank & Trust purchased a new stake in shares of Talen Energy during the 3rd quarter valued at approximately $32,000. Assetmark Inc. lifted 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 valued at $32,000 after buying an additional 64 shares in the last quarter. Neo Ivy Capital Management bought a new position in Talen Energy in the 3rd quarter worth approximately $34,000. Finally, Advisory Services Network LLC bought a new position in Talen Energy in the 3rd quarter worth approximately $35,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. BNP Paribas Exane initiated coverage on shares of Talen Energy in a report on Wednesday, March 18th. They set an "outperform" rating and a $548.00 target price on the stock. JPMorgan Chase & Co. cut their price target on Talen Energy from $448.00 to $421.00 and set an "overweight" rating for the company in a report on Thursday, March 19th. Wells Fargo & Company lifted their price target on Talen Energy from $445.00 to $506.00 and gave the company an "overweight" rating in a research report on Tuesday, January 20th. Morgan Stanley set a $474.00 price objective on Talen Energy in a research note on Friday, February 20th. Finally, Weiss Ratings cut Talen Energy from a "hold (c)" rating to a "sell (d+)" rating in a report on Friday, February 27th. Twelve equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Talen Energy currently has an average rating of "Moderate Buy" and a consensus target price of $438.17.

Talen Energy Trading Up 0.4%

Talen Energy stock opened at $324.54 on Friday. The company has a debt-to-equity ratio of 6.20, a quick ratio of 1.02 and a current ratio of 1.28. Talen Energy Corporation has a fifty-two week low of $162.31 and a fifty-two week high of $451.28. The stock has a market cap of $14.73 billion, a P/E ratio of -65.70, a PEG ratio of 0.45 and a beta of 1.94. The firm's fifty day moving average price is $348.87 and its 200-day moving average price is $376.60.

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).

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