RWC Asset Management LLP Boosts Holdings in Talen Energy Corporation $TLN

RWC Asset Management LLP lifted its stake in Talen Energy Corporation (NASDAQ:TLN) by 34.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,541 shares of the utilities provider’s stock after buying an additional 6,344 shares during the period. RWC Asset Management LLP owned approximately 0.05% of Talen Energy worth $9,199,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Talen Energy by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,523,159 shares of the utilities provider’s stock valued at $1,924,061,000 after buying an additional 117,266 shares during the last quarter. Reaves W H & Co. Inc. grew its position in shares of Talen Energy by 7.9% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock valued at $570,393,000 after buying an additional 111,160 shares during the last quarter. State Street Corp grew its position in shares of Talen Energy by 88.2% in the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after buying an additional 627,467 shares during the last quarter. Lone Pine Capital LLC grew its position in shares of Talen Energy by 9.5% in the 3rd quarter. Lone Pine Capital LLC now owns 1,192,516 shares of the utilities provider’s stock valued at $507,272,000 after buying an additional 103,136 shares during the last quarter. Finally, Invesco Ltd. grew its position in 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 purchasing an additional 464,014 shares during the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Price Performance

Shares of NASDAQ:TLN opened at $364.74 on Monday. The company has a market cap of $16.56 billion, a price-to-earnings ratio of -544.38 and a beta of 1.81. The firm’s 50-day simple moving average is $353.84 and its 200-day simple moving average is $358.99. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32. Talen Energy Corporation has a fifty-two week low of $246.95 and a fifty-two week high of $451.28.

Wall Street Analysts Forecast Growth

TLN has been the topic of several research reports. Barclays raised their price objective on shares of Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Morgan Stanley reissued an “overweight” rating and set a $499.00 price objective on shares of Talen Energy in a research report on Thursday, May 21st. Wells Fargo & Company raised their price objective on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. lowered their target price 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 stock. Based on data from MarketBeat, Talen Energy currently has an average rating of “Moderate Buy” and an average price target of $448.58.

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).