Northwestern Mutual Wealth Management Co. Acquires 19,960 Shares of Talen Energy Corporation $TLN

Northwestern Mutual Wealth Management Co. raised its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 332,666.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,966 shares of the utilities provider’s stock after acquiring an additional 19,960 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Talen Energy were worth $7,484,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TLN. State Street Corp grew its stake in shares of Talen Energy by 88.2% during the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after acquiring an additional 627,467 shares in the last quarter. Invesco Ltd. grew its stake in shares of Talen Energy by 77.5% during the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock worth $452,189,000 after acquiring an additional 464,014 shares in the last quarter. Voloridge Investment Management LLC grew its stake in shares of Talen Energy by 475.3% during the 3rd quarter. Voloridge Investment Management LLC now owns 259,475 shares of the utilities provider’s stock worth $110,375,000 after acquiring an additional 214,371 shares in the last quarter. Palestra Capital Management LLC bought a new position in shares of Talen Energy during the 3rd quarter worth approximately $81,486,000. Finally, Reaves W H & Co. Inc. grew its stake in shares of Talen Energy by 12.6% during the 3rd quarter. Reaves W H & Co. Inc. now owns 1,410,537 shares of the utilities provider’s stock worth $600,014,000 after acquiring an additional 158,047 shares in the last quarter. 0.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TLN shares. BNP Paribas Exane started coverage on shares of Talen Energy in a research note on Wednesday, March 18th. They set an “outperform” rating and a $548.00 price target for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $499.00 price target on shares of Talen Energy in a research note on Thursday. Barclays increased their price objective on Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a report on Tuesday. Raymond James Financial reissued an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a report on Monday, April 27th. Finally, Wells Fargo & Company increased their price objective on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $448.58.

Talen Energy Trading Up 3.3%

NASDAQ TLN opened at $372.45 on Friday. The company has a market cap of $16.91 billion, a PE ratio of -555.89 and a beta of 1.90. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. Talen Energy Corporation has a 12 month low of $237.35 and a 12 month high of $451.28. The stock has a 50 day moving average of $342.12 and a 200-day moving average of $359.35.

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).