First Trust Advisors LP Grows Stake in Talen Energy Corporation (NASDAQ:TLN)

First Trust Advisors LP boosted its position in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 881.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,891 shares of the utilities provider's stock after purchasing an additional 39,417 shares during the period. First Trust Advisors LP owned about 0.09% of Talen Energy worth $8,843,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TLN. William Blair Investment Management LLC purchased a new position in Talen Energy in the 4th quarter valued at approximately $239,984,000. Pictet Asset Management Holding SA purchased a new position in Talen Energy during the fourth quarter worth $101,931,000. Clearbridge Investments LLC purchased a new position in Talen Energy during the fourth quarter worth $88,065,000. Vanguard Group Inc. increased its position in Talen Energy by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider's stock worth $964,302,000 after buying an additional 256,414 shares in the last quarter. Finally, FIL Ltd purchased a new position in Talen Energy during the fourth quarter worth $43,816,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on TLN shares. Barclays dropped their price target on Talen Energy from $293.00 to $282.00 and set an "overweight" rating for the company in a research report on Tuesday, March 4th. Evercore ISI started coverage on Talen Energy in a research report on Friday, February 21st. They set an "outperform" rating for the company. Daiwa Capital Markets set a $200.00 price target on Talen Energy in a research report on Wednesday, March 5th. Bank of America assumed coverage on Talen Energy in a research report on Monday, February 3rd. They issued a "buy" rating and a $253.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Talen Energy from $295.00 to $265.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $240.18.

Talen Energy Stock Up 0.9 %

TLN opened at $213.43 on Tuesday. The firm has a 50 day moving average price of $201.02 and a 200 day moving average price of $204.70. The company has a market cap of $9.71 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 2.70 and a beta of 1.93. Talen Energy Corporation has a 1 year low of $98.50 and a 1 year high of $258.03. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10.

About Talen Energy

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.

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