Cresset Asset Management LLC Buys New Position in Talen Energy Corporation (NASDAQ:TLN)

Cresset Asset Management LLC bought a new stake in shares of Talen Energy Corporation (NASDAQ:TLN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,548 shares of the utilities provider’s stock, valued at approximately $312,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TLN. William Blair Investment Management LLC purchased a new position in shares of Talen Energy in the 4th quarter valued at about $239,984,000. Pictet Asset Management Holding SA purchased a new position in shares of Talen Energy in the 4th quarter valued at about $101,931,000. Clearbridge Investments LLC acquired a new stake in shares of Talen Energy during the 4th quarter worth about $88,065,000. Vanguard Group Inc. raised its position in shares of Talen Energy by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider’s stock worth $964,302,000 after acquiring an additional 256,414 shares in the last quarter. Finally, Lone Pine Capital LLC raised its position in shares of Talen Energy by 27.2% during the 4th quarter. Lone Pine Capital LLC now owns 1,089,380 shares of the utilities provider’s stock worth $219,477,000 after acquiring an additional 233,165 shares in the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Analyst Ratings Changes

TLN has been the topic of several research analyst reports. Bank of America initiated coverage on Talen Energy in a research report on Monday, February 3rd. They set a “buy” rating and a $253.00 target price on the stock. Barclays cut their target price on Talen Energy from $293.00 to $282.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 4th. Evercore ISI initiated coverage on Talen Energy in a research report on Friday, February 21st. They set an “outperform” rating on the stock. Daiwa Capital Markets set a $200.00 target price on Talen Energy in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut their target price on Talen Energy from $295.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Talen Energy has a consensus rating of “Buy” and a consensus target price of $240.18.

Talen Energy Trading Up 0.0%

TLN opened at $244.86 on Friday. The firm has a market cap of $11.14 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 2.70 and a beta of 1.90. Talen Energy Corporation has a 52 week low of $98.50 and a 52 week high of $258.03. The business’s 50 day moving average is $209.87 and its two-hundred day moving average is $211.86. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07.

Talen Energy (NASDAQ:TLN) last announced its earnings results on Thursday, May 8th. The utilities provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.35). Talen Energy had a net margin of 50.48% and a return on equity of 8.59%. The company had revenue of $390.00 million during the quarter, compared to analysts’ expectations of $556.93 million. On average, research analysts predict that Talen Energy Corporation will post 15.94 EPS for the current year.

Talen Energy Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.