Talen Energy Corporation $TLN Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund grew its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 33.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,700 shares of the utilities provider’s stock after buying an additional 6,200 shares during the period. New York State Common Retirement Fund owned about 0.05% of Talen Energy worth $10,507,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Grove Bank & Trust bought a new position in Talen Energy during the third quarter worth $32,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Talen Energy during the second quarter worth $27,000. MAI Capital Management raised 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 period. AdvisorNet Financial Inc lifted its position in shares of Talen Energy by 396.2% in the 3rd quarter. AdvisorNet Financial Inc now owns 129 shares of the utilities provider’s stock worth $55,000 after buying an additional 103 shares during the last quarter. Finally, CoreCap Advisors LLC boosted its holdings in shares of Talen Energy by 2,050.0% in the 3rd quarter. CoreCap Advisors LLC now owns 129 shares of the utilities provider’s stock valued at $55,000 after buying an additional 123 shares during the period. 0.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TLN shares. Barclays increased their price target on Talen Energy from $439.00 to $457.00 and gave the stock an “overweight” rating in a research report on Friday, January 9th. Wells Fargo & Company increased their price objective on shares of Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Talen Energy in a research report on Wednesday, January 21st. JPMorgan Chase & Co. upped their target price on shares of Talen Energy from $432.00 to $442.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, Morgan Stanley raised their price target on shares of Talen Energy from $443.00 to $470.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $413.25.

Talen Energy Stock Performance

NASDAQ:TLN opened at $341.42 on Wednesday. The company has a 50-day moving average of $370.91 and a 200-day moving average of $383.06. The firm has a market cap of $15.60 billion, a price-to-earnings ratio of 73.90, a price-to-earnings-growth ratio of 0.51 and a beta of 1.98. The company has a current ratio of 2.29, a quick ratio of 1.72 and a debt-to-equity ratio of 2.02. Talen Energy Corporation has a twelve month low of $158.08 and a twelve month high of $451.28.

Talen Energy (NASDAQ:TLN) last released its earnings results on Wednesday, November 5th. The utilities provider reported $4.25 EPS for the quarter, beating the consensus estimate of $4.01 by $0.24. The business had revenue of $812.00 million during the quarter, compared to analyst estimates of $707.90 million. Talen Energy had a net margin of 9.83% and a return on equity of 13.52%. The business’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.16 earnings per share. Analysts forecast that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.

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).