Talen Energy Corporation $TLN Shares Bought by Victory Capital Management Inc.

Key Points

• Victory Capital increased its position in Talen Energy by 157% in Q3, acquiring an additional 67,881 shares to hold 111,104 shares worth about $47.26 million (≈0.24% of the company).
• Analysts have an average rating of "Moderate Buy" on TLN with an average price target of $430.09 (11 Buys, 2 Holds, 1 Sell).
• Talen shares opened at $320.56 and were down 4.3%; the company has a market cap of $14.65 billion, a debt-to-equity ratio of 6.20 and a negative P/E of -64.89, with a one-year range of $158.08–$451.28.

Victory Capital Management Inc. grew its position in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 157.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,104 shares of the utilities provider's stock after acquiring an additional 67,881 shares during the period. Victory Capital Management Inc. owned about 0.24% of Talen Energy worth $47,261,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Grove Bank & Trust acquired a new stake in Talen Energy in the third quarter valued at about $32,000. Assetmark Inc. raised 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 buying an additional 64 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of Talen Energy during the 2nd quarter worth approximately $27,000. MAI Capital Management lifted its holdings in shares of Talen Energy by 115.7% in the 2nd quarter. MAI Capital Management now owns 110 shares of the utilities provider's stock valued at $32,000 after buying an additional 59 shares during the period. Finally, Optiver Holding B.V. purchased a new stake in shares of Talen Energy in the third quarter valued at approximately $48,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Weiss Ratings downgraded Talen Energy from a "hold (c)" rating to a "sell (d+)" rating in a report on Friday, February 27th. Morgan Stanley set a $474.00 price target on shares of Talen Energy in a report on Friday, February 20th. Wells Fargo & Company raised their price objective on shares of Talen Energy from $445.00 to $506.00 and gave the company an "overweight" rating in a research note on Tuesday, January 20th. Finally, Barclays decreased their price objective on shares of Talen Energy from $457.00 to $425.00 and set an "overweight" rating on the stock in a report on Wednesday, February 11th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $430.09.

Talen Energy Stock Down 4.3%

TLN opened at $320.56 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. The company has a market cap of $14.65 billion, a price-to-earnings ratio of -64.89, a PEG ratio of 0.47 and a beta of 1.94. Talen Energy Corporation has a one year low of $158.08 and a one year high of $451.28. The business's fifty day moving average is $366.22 and its two-hundred day moving average is $382.14.

About Talen Energy

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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