1,595 Shares in Talen Energy Corporation $TLN Purchased by North Dakota State Investment Board

North Dakota State Investment Board acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,595 shares of the utilities provider’s stock, valued at approximately $598,000.

A number of other institutional investors have also recently added to or reduced their stakes in TLN. State Street Corp boosted its holdings in Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after buying an additional 627,467 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Talen Energy by 77.5% in the third quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock valued at $452,189,000 after purchasing an additional 464,014 shares in the last quarter. Voloridge Investment Management LLC lifted its holdings in shares of Talen Energy by 475.3% in the third quarter. Voloridge Investment Management LLC now owns 259,475 shares of the utilities provider’s stock valued at $110,375,000 after purchasing an additional 214,371 shares in the last quarter. Palestra Capital Management LLC purchased a new stake in shares of Talen Energy in the third quarter valued at about $81,486,000. Finally, Reaves W H & Co. Inc. lifted its holdings in shares of Talen Energy by 12.6% in the third quarter. Reaves W H & Co. Inc. now owns 1,410,537 shares of the utilities provider’s stock valued at $600,014,000 after purchasing an additional 158,047 shares in the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Performance

Shares of TLN opened at $360.48 on Friday. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. The company has a market capitalization of $16.37 billion, a price-to-earnings ratio of -538.02 and a beta of 1.90. The company’s 50 day simple moving average is $341.00 and its 200 day simple moving average is $359.26. Talen Energy Corporation has a 1 year low of $232.34 and a 1 year high of $451.28.

Wall Street Analysts Forecast Growth

TLN has been the topic of several recent research reports. BNP Paribas Exane initiated coverage on shares of Talen Energy in a report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price target on the stock. Barclays upped their price target on shares of Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a report on Tuesday. Raymond James Financial reaffirmed an “outperform” rating and issued a $457.00 price target on shares of Talen Energy in a report on Monday, April 27th. Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a report on Thursday, March 19th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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).