Lone Pine Capital LLC Raises Stock Position in Talen Energy Corporation (NASDAQ:TLN)

Lone Pine Capital LLC grew its holdings in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 27.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,089,380 shares of the utilities provider's stock after purchasing an additional 233,165 shares during the quarter. Talen Energy accounts for about 1.6% of Lone Pine Capital LLC's holdings, making the stock its 25th biggest holding. Lone Pine Capital LLC owned about 2.14% of Talen Energy worth $219,477,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in shares of Talen Energy by 170.6% in the 4th quarter. Allworth Financial LP now owns 184 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 116 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Talen Energy during the 4th quarter valued at $37,000. Geneos Wealth Management Inc. acquired a new position in shares of Talen Energy in the 4th quarter worth $39,000. Empowered Funds LLC acquired a new stake in shares of Talen Energy in the fourth quarter worth $42,000. Finally, Whipplewood Advisors LLC acquired a new position in Talen Energy in the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 0.38% of the company's stock.

Analyst Ratings Changes

TLN has been the topic of several research analyst reports. UBS Group lowered their price objective on shares of Talen Energy from $275.00 to $259.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. cut their target price on shares of Talen Energy from $295.00 to $265.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Daiwa Capital Markets set a $200.00 target price on shares of Talen Energy in a research report on Wednesday, March 5th. Barclays cut their target price on shares of Talen Energy from $293.00 to $282.00 and set an "overweight" rating for the company in a research note on Tuesday, March 4th. Finally, Evercore ISI assumed coverage on Talen Energy in a report on Friday, February 21st. They issued an "outperform" rating on the stock. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $240.18.

Talen Energy Stock Performance

Shares of Talen Energy stock traded up $8.26 on Thursday, reaching $223.34. 1,145,450 shares of the stock were exchanged, compared to its average volume of 1,107,554. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07. Talen Energy Corporation has a twelve month low of $98.50 and a twelve month high of $258.03. The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 2.70 and a beta of 1.93. The business has a 50 day moving average price of $200.65 and a two-hundred day moving average price of $206.61.

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.