South Dakota Investment Council Purchases New Position in Talen Energy Corporation $TLN

South Dakota Investment Council acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,500 shares of the utilities provider’s stock, valued at approximately $1,489,000.

A number of other institutional investors also recently modified their holdings of the company. Grove Bank & Trust bought a new stake in Talen Energy during the 3rd quarter worth approximately $32,000. Assetmark Inc. boosted its stake in Talen Energy by 581.8% in the third quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Talen Energy during the second quarter worth $27,000. MAI Capital Management grew its holdings in shares of Talen Energy by 115.7% during the second quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 59 shares during the last quarter. Finally, Optiver Holding B.V. acquired a new stake in shares of Talen Energy in the third quarter valued at $48,000. Institutional investors own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

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

Talen Energy Stock Down 0.5%

Shares of Talen Energy stock opened at $334.86 on Friday. The business has a fifty day simple moving average of $367.50 and a 200 day simple moving average of $382.43. The stock has a market cap of $15.30 billion, a PE ratio of -67.79, a price-to-earnings-growth ratio of 0.50 and a beta of 1.94. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 6.20. Talen Energy Corporation has a 12 month low of $158.08 and a 12 month high of $451.28.

Talen Energy Profile

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).