Talen Energy Corporation $TLN is Ripple Effect Asset Management LP’s 4th Largest Position

Ripple Effect Asset Management LP lessened its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 52.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the utilities provider’s stock after selling 10,960 shares during the quarter. Talen Energy comprises 1.1% of Ripple Effect Asset Management LP’s portfolio, making the stock its 4th largest holding. Ripple Effect Asset Management LP’s holdings in Talen Energy were worth $3,748,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in TLN. Amundi purchased a new position in Talen Energy during the 1st quarter valued at about $299,000. AQR Capital Management LLC purchased a new position in Talen Energy during the 1st quarter valued at about $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Talen Energy by 11.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock valued at $1,454,000 after buying an additional 761 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Talen Energy by 17,400.0% during the 1st quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock valued at $175,000 after buying an additional 870 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Talen Energy by 15.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock valued at $9,794,000 after buying an additional 6,498 shares in the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Raymond James Financial reaffirmed an “outperform” rating and set a $457.00 target price on shares of Talen Energy in a report on Monday, April 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $499.00 target price on shares of Talen Energy in a report on Thursday, May 21st. Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Wells Fargo & Company lifted their target price on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, BNP Paribas Exane started coverage on Talen Energy in a report on Wednesday, March 18th. They set an “outperform” rating and a $548.00 target price for the company. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Talen Energy has a consensus rating of “Moderate Buy” and a consensus price target of $448.58.

Talen Energy Stock Performance

Shares of TLN opened at $360.54 on Monday. The company has a market cap of $16.37 billion, a PE ratio of -538.11 and a beta of 1.81. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. The stock has a 50-day moving average price of $356.99 and a 200-day moving average price of $358.18. Talen Energy Corporation has a 12-month low of $255.50 and a 12-month high of $451.28.

Talen Energy Company 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).