Merewether Investment Management LP cut its stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 57.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 245,208 shares of the utilities provider's stock after selling 325,001 shares during the quarter. Talen Energy accounts for about 2.0% of Merewether Investment Management LP's portfolio, making the stock its 18th biggest position. Merewether Investment Management LP owned approximately 0.48% of Talen Energy worth $49,402,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Wedbush Securities Inc. grew its stake in shares of Talen Energy by 5.1% during the fourth quarter. Wedbush Securities Inc. now owns 1,261 shares of the utilities provider's stock valued at $254,000 after buying an additional 61 shares during the last quarter. Allworth Financial LP raised its stake in Talen Energy by 170.6% in the fourth quarter. Allworth Financial LP now owns 184 shares of the utilities provider's stock worth $37,000 after buying an additional 116 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Talen Energy during the 4th quarter worth approximately $37,000. Geneos Wealth Management Inc. bought a new position in Talen Energy in the 4th quarter worth about $39,000. Finally, Empowered Funds LLC bought a new position in shares of Talen Energy in the fourth quarter worth approximately $42,000. Hedge funds and other institutional investors own 0.38% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have commented on TLN. Evercore ISI started coverage on Talen Energy in a research note on Friday, February 21st. They set an "outperform" rating on the stock. Daiwa Capital Markets set a $200.00 price objective on Talen Energy in a research note on Wednesday, March 5th. Morgan Stanley assumed coverage on Talen Energy in a research report on Wednesday, March 12th. They issued an "overweight" rating and a $243.00 price objective on the stock. JPMorgan Chase & Co. reduced their price target 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. Finally, Bank of America started coverage on shares of Talen Energy in a report on Monday, February 3rd. They issued a "buy" rating and a $253.00 target price on the stock. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Talen Energy presently has a consensus rating of "Buy" and an average price target of $240.18.
Read Our Latest Stock Report on Talen Energy
Talen Energy Stock Up 5.1%
Talen Energy stock opened at $236.62 on Tuesday. The firm has a 50 day moving average price of $204.34 and a 200 day moving average price of $210.58. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10. Talen Energy Corporation has a fifty-two week low of $98.50 and a fifty-two week high of $258.03. The company has a market capitalization of $10.77 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 2.70 and a beta of 1.90.
Talen Energy Profile
(
Free Report)
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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