Jennison Associates LLC Sells 58,289 Shares of Talen Energy Corporation $TLN

Jennison Associates LLC lowered its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 20.9% in the first quarter, Holdings Channel reports. The institutional investor owned 220,613 shares of the utilities provider’s stock after selling 58,289 shares during the period. Jennison Associates LLC’s holdings in Talen Energy were worth $70,426,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Ritholtz Wealth Management boosted its holdings in Talen Energy by 3.6% in the first quarter. Ritholtz Wealth Management now owns 1,045 shares of the utilities provider’s stock worth $334,000 after acquiring an additional 36 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Talen Energy by 5.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 671 shares of the utilities provider’s stock valued at $252,000 after acquiring an additional 36 shares in the last quarter. Compound Planning Inc. increased its holdings in shares of Talen Energy by 4.7% during the fourth quarter. Compound Planning Inc. now owns 841 shares of the utilities provider’s stock valued at $315,000 after acquiring an additional 38 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in shares of Talen Energy by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 10,223 shares of the utilities provider’s stock valued at $3,832,000 after purchasing an additional 39 shares during the last quarter. Finally, Values First Advisors Inc. raised its position in shares of Talen Energy by 4.7% in the 1st quarter. Values First Advisors Inc. now owns 979 shares of the utilities provider’s stock valued at $312,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TLN. Raymond James Financial reiterated an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a research note on Monday, April 27th. 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 research note on Tuesday, May 19th. Wells Fargo & Company raised their price target on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. The Goldman Sachs Group assumed coverage on shares of Talen Energy in a research note on Thursday, June 18th. They set a “buy” rating and a $499.00 price objective for the company. Finally, Scotiabank boosted their price objective on shares of Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a report on Wednesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Talen Energy has an average rating of “Moderate Buy” and an average target price of $475.08.

Insiders Place Their Bets

In related news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the transaction, the director owned 2,606 shares in the company, valued at approximately $990,280. This represents a 49.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.78% of the company’s stock.

Talen Energy Stock Performance

Shares of NASDAQ:TLN opened at $372.37 on Monday. 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 52-week low of $300.00 and a 52-week high of $451.28. The stock has a market cap of $17.84 billion, a price-to-earnings ratio of -555.77 and a beta of 1.82. The business has a 50-day moving average price of $378.30 and a 200-day moving average price of $362.13.

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).