Marnell Management LLC Invests $2.16 Million in Talen Energy Corporation $TLN

Marnell Management LLC purchased a new position in shares of Talen Energy Corporation (NASDAQ:TLN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,760 shares of the utilities provider’s stock, valued at approximately $2,159,000. Talen Energy accounts for 1.0% of Marnell Management LLC’s investment portfolio, making the stock its 24th biggest holding.

A number of other hedge funds have also modified their holdings of the business. NFJ Investment Group LLC purchased a new position in shares of Talen Energy during the 4th quarter worth $241,000. Dockside LLC purchased a new position in shares of Talen Energy during the 4th quarter worth $1,891,000. Eventide Asset Management LLC grew its holdings in shares of Talen Energy by 11.5% during the 4th quarter. Eventide Asset Management LLC now owns 124,596 shares of the utilities provider’s stock worth $46,731,000 after purchasing an additional 12,837 shares during the period. Entropy Technologies LP grew its holdings in shares of Talen Energy by 5.0% during the 4th quarter. Entropy Technologies LP now owns 7,117 shares of the utilities provider’s stock worth $2,668,000 after purchasing an additional 341 shares during the period. Finally, Barclays PLC grew its holdings in shares of Talen Energy by 13.3% during the 4th quarter. Barclays PLC now owns 114,923 shares of the utilities provider’s stock worth $43,078,000 after purchasing an additional 13,461 shares during the period. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Talen Energy Price Performance

Shares of NASDAQ TLN opened at $360.54 on Monday. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. Talen Energy Corporation has a fifty-two week low of $255.50 and a fifty-two week high of $451.28. The firm has a market capitalization of $16.37 billion, a PE ratio of -538.11 and a beta of 1.81. The stock’s 50-day simple moving average is $356.99 and its 200-day simple moving average is $358.18.

Analyst Upgrades and Downgrades

TLN has been the subject of a number of research analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $499.00 price target on shares of Talen Energy in a report on Thursday, May 21st. Raymond James Financial reiterated an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a report on Monday, April 27th. BNP Paribas Exane began coverage on Talen Energy in a report on Wednesday, March 18th. They set an “outperform” rating and a $548.00 price target for the company. Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Finally, Barclays raised their target price on Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $448.58.

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).