Dockside LLC Takes $1.89 Million Position in Talen Energy Corporation $TLN

Dockside LLC bought a new stake in Talen Energy Corporation (NASDAQ:TLN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,044 shares of the utilities provider’s stock, valued at approximately $1,891,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Daiwa Securities Group Inc. raised its stake in shares of Talen Energy by 5.7% in 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 during the period. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Talen Energy by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 10,223 shares of the utilities provider’s stock valued at $3,832,000 after acquiring an additional 39 shares during the period. Berbice Capital Management LLC raised its stake in shares of Talen Energy by 19.1% in the fourth quarter. Berbice Capital Management LLC now owns 280 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 45 shares during the period. Red Door Wealth Management LLC grew its holdings in shares of Talen Energy by 2.2% in the fourth quarter. Red Door Wealth Management LLC now owns 2,191 shares of the utilities provider’s stock worth $821,000 after purchasing an additional 47 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Talen Energy by 13.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 475 shares of the utilities provider’s stock worth $178,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Trading Up 4.6%

NASDAQ TLN opened at $360.54 on Friday. 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 $255.50 and a 12 month high of $451.28. The company’s 50-day moving average price is $356.99 and its 200-day moving average price is $358.33. The stock has a market cap of $16.37 billion, a PE ratio of -538.11 and a beta of 1.80.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TLN shares. Raymond James Financial restated an “outperform” rating and issued a $457.00 price target on shares of Talen Energy in a report on Monday, April 27th. Barclays upped their price target on shares of Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. cut 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. Finally, BNP Paribas Exane started 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. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $448.58.

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).