Picton Mahoney Asset Management Has $13.37 Million Position in Talen Energy Corporation $TLN

Picton Mahoney Asset Management cut its stake in Talen Energy Corporation (NASDAQ:TLN) by 31.3% during the third quarter, HoldingsChannel reports. The fund owned 31,429 shares of the utilities provider’s stock after selling 14,317 shares during the quarter. Picton Mahoney Asset Management’s holdings in Talen Energy were worth $13,368,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. raised its stake in shares of Talen Energy by 33.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 38,312 shares of the utilities provider’s stock worth $11,140,000 after purchasing an additional 9,692 shares in the last quarter. American Century Companies Inc. increased its holdings in Talen Energy by 1.6% in the third quarter. American Century Companies Inc. now owns 342,914 shares of the utilities provider’s stock worth $145,870,000 after buying an additional 5,389 shares during the last quarter. Reaves W H & Co. Inc. increased its holdings in Talen Energy by 12.6% in the third quarter. Reaves W H & Co. Inc. now owns 1,410,537 shares of the utilities provider’s stock worth $600,014,000 after buying an additional 158,047 shares during the last quarter. Mutual Advisors LLC bought a new position in Talen Energy during the third quarter valued at approximately $2,485,000. Finally, Principal Financial Group Inc. lifted its stake in Talen Energy by 2,067.8% in the third quarter. Principal Financial Group Inc. now owns 101,452 shares of the utilities provider’s stock valued at $43,156,000 after acquiring an additional 96,772 shares during the last quarter. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Talen Energy Stock Performance

NASDAQ:TLN opened at $336.57 on Thursday. The firm has a market capitalization of $15.38 billion, a PE ratio of -68.13, a PEG ratio of 0.50 and a beta of 1.94. Talen Energy Corporation has a 1 year low of $158.08 and a 1 year high of $451.28. 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 firm’s fifty day simple moving average is $368.27 and its 200 day simple moving average is $382.76.

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).