Pictet Asset Management Holding SA Reduces Holdings in Talen Energy Corporation $TLN

Key Points

• Pictet Asset Management cut its position in Talen Energy by 15.9% in Q4, selling 52,760 shares and leaving it with 279,523 shares valued at about $104.8 million (roughly a 0.61% stake) per its SEC filing.
• Several large asset managers boosted or initiated sizable stakes—State Street (+88.2% to 1,338,698 shares), Invesco (+77.5% to 1,063,024), Voloridge (+475.3%), Palestra (new ~$81.5M stake) and Reaves (+12.6%)—signaling strong institutional buying interest.
• Talen Energy (TLN) is trading around $369.67 with a $16.78 billion market cap and a negative PE (-74.8); analysts give a consensus rating of “Moderate Buy” with a $449.08 target and individual price targets ranging roughly $421–$548.

Pictet Asset Management Holding SA lowered its position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 15.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 279,523 shares of the utilities provider's stock after selling 52,760 shares during the period. Pictet Asset Management Holding SA owned approximately 0.61% of Talen Energy worth $104,776,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TLN. State Street Corp raised its stake in shares of Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider's stock valued at $569,455,000 after purchasing an additional 627,467 shares during the period. Invesco Ltd. raised its stake in shares of Talen Energy by 77.5% during the third quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider's stock valued at $452,189,000 after purchasing an additional 464,014 shares during the period. Voloridge Investment Management LLC raised its stake in shares of Talen Energy by 475.3% during the third quarter. Voloridge Investment Management LLC now owns 259,475 shares of the utilities provider's stock valued at $110,375,000 after purchasing an additional 214,371 shares during the period. Palestra Capital Management LLC purchased a new stake in shares of Talen Energy during the third quarter valued at approximately $81,486,000. Finally, Reaves W H & Co. Inc. raised its stake 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 valued at $600,014,000 after purchasing an additional 158,047 shares during the period. Hedge funds and other institutional investors own 0.38% of the company's stock.

Talen Energy Stock Up 1.5%

Shares of NASDAQ:TLN opened at $369.67 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 6.20. The company has a fifty day simple moving average of $340.65 and a 200 day simple moving average of $363.92. The firm has a market cap of $16.78 billion, a PE ratio of -74.83, a price-to-earnings-growth ratio of 0.52 and a beta of 2.15. Talen Energy Corporation has a 12-month low of $206.01 and a 12-month high of $451.28.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Talen Energy from $448.00 to $421.00 and set an "overweight" rating on the stock in a research note on Thursday, March 19th. Morgan Stanley reiterated an "overweight" rating and set a $479.00 price objective on shares of Talen Energy in a research note on Tuesday, April 21st. BNP Paribas Exane assumed coverage on shares of Talen Energy in a research note on Wednesday, March 18th. They set an "outperform" rating and a $548.00 price objective on the stock. Raymond James Financial reiterated an "outperform" rating and set a $457.00 price objective on shares of Talen Energy in a research note on Monday. Finally, Wells Fargo & Company lifted 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. Twelve 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 company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $449.08.

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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