Jennison Associates LLC Cuts Stake in Talen Energy Corporation $TLN

Jennison Associates LLC reduced its stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 278,902 shares of the utilities provider's stock after selling 2,757 shares during the period. Jennison Associates LLC owned approximately 0.61% of Talen Energy worth $104,544,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Talen Energy by 2.7% in the third quarter. Vanguard Group Inc. now owns 4,523,159 shares of the utilities provider's stock worth $1,924,061,000 after acquiring an additional 117,266 shares during the last quarter. Reaves W H & Co. Inc. grew its stake in shares of Talen Energy by 12.6% in 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 acquiring an additional 158,047 shares during the last quarter. State Street Corp grew its stake in shares of Talen Energy by 88.2% in the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider's stock worth $569,455,000 after acquiring an additional 627,467 shares during the last quarter. Lone Pine Capital LLC grew its stake in shares of Talen Energy by 9.5% in the third quarter. Lone Pine Capital LLC now owns 1,192,516 shares of the utilities provider's stock worth $507,272,000 after acquiring an additional 103,136 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Talen Energy by 77.5% in the third quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider's stock worth $452,189,000 after acquiring an additional 464,014 shares during the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Trading Up 5.8%

Talen Energy stock opened at $372.42 on Friday. The company has a debt-to-equity ratio of 6.20, a current ratio of 1.28 and a quick ratio of 1.02. Talen Energy Corporation has a one year low of $216.20 and a one year high of $451.28. The stock has a market capitalization of $16.91 billion, a PE ratio of -75.39, a price-to-earnings-growth ratio of 0.51 and a beta of 2.15. The business's fifty day moving average is $339.39 and its 200 day moving average is $363.54.

Wall Street Analyst Weigh In

TLN has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on Talen Energy from $445.00 to $506.00 and gave the company an "overweight" rating in a research report on Tuesday, January 20th. BNP Paribas Exane initiated coverage on Talen Energy in a research report on Wednesday, March 18th. They set an "outperform" rating and a $548.00 price objective on the stock. Weiss Ratings cut Talen Energy from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, February 27th. Morgan Stanley reaffirmed an "overweight" rating and set a $479.00 price objective on shares of Talen Energy in a research report on Tuesday, April 21st. Finally, Barclays dropped their price objective on Talen Energy from $425.00 to $408.00 and set an "overweight" rating on the stock in a research report on Monday, April 20th. Twelve 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $449.08.

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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