CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Grows Stake in Talen Energy Corporation $TLN

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,200 shares of the utilities provider’s stock after purchasing an additional 11,300 shares during the period. Talen Energy comprises 2.5% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s investment portfolio, making the stock its 16th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Talen Energy were worth $43,931,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Talen Energy during the fourth quarter worth about $27,000. Assetmark Inc. increased its stake in shares of Talen Energy by 581.8% during 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. Neo Ivy Capital Management acquired a new position in Talen Energy during the third quarter worth about $34,000. Advisory Services Network LLC acquired a new position in Talen Energy during the third quarter worth about $35,000. Finally, Optiver Holding B.V. acquired a new position in Talen Energy during the third quarter worth about $48,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Performance

NASDAQ:TLN opened at $365.35 on Friday. The company has a debt-to-equity ratio of 6.20, a current ratio of 1.28 and a quick ratio of 1.02. The firm has a market capitalization of $16.59 billion, a price-to-earnings ratio of -73.96, a PEG ratio of 0.51 and a beta of 2.15. The company’s 50-day moving average is $342.51 and its two-hundred day moving average is $368.06. Talen Energy Corporation has a 1-year low of $186.49 and a 1-year high of $451.28.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TLN shares. Morgan Stanley set a $474.00 price target on shares of Talen Energy in a research report on Friday, February 20th. Barclays lowered their price target 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. JPMorgan Chase & Co. lowered their price target on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. BNP Paribas Exane started coverage on shares of Talen Energy in a research report on Wednesday, March 18th. They set an “outperform” rating and a $548.00 price target on the stock. Finally, Weiss Ratings lowered shares of Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, February 27th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $438.17.

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).