State of Alaska Department of Revenue Invests $2.10 Million in Talen Energy Corporation $TLN

State of Alaska Department of Revenue bought a new stake in Talen Energy Corporation (NASDAQ:TLN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,928 shares of the utilities provider’s stock, valued at approximately $2,096,000.

Several other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in Talen Energy by 26.1% during the 2nd quarter. Geode Capital Management LLC now owns 794,754 shares of the utilities provider’s stock valued at $231,150,000 after acquiring an additional 164,734 shares in the last quarter. Third Point LLC grew its stake in shares of Talen Energy by 34.2% in the 2nd quarter. Third Point LLC now owns 785,000 shares of the utilities provider’s stock worth $228,254,000 after acquiring an additional 200,000 shares in the last quarter. State Street Corp raised its holdings in shares of Talen Energy by 151.0% in the second quarter. State Street Corp now owns 711,231 shares of the utilities provider’s stock valued at $206,805,000 after purchasing an additional 427,910 shares during the last quarter. Invesco Ltd. lifted its position in shares of Talen Energy by 18.9% during the second quarter. Invesco Ltd. now owns 599,010 shares of the utilities provider’s stock valued at $174,174,000 after purchasing an additional 95,147 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Talen Energy during the second quarter valued at about $168,188,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TLN. Zacks Research lowered shares of Talen Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 18th. JPMorgan Chase & Co. upped their target price on Talen Energy from $432.00 to $442.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Talen Energy in a report on Wednesday, October 8th. Wells Fargo & Company reduced their price objective on Talen Energy from $453.00 to $445.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $443.00 target price on shares of Talen Energy in a research note on Tuesday, December 16th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Talen Energy has an average rating of “Moderate Buy” and an average price target of $396.50.

Talen Energy Stock Performance

NASDAQ:TLN opened at $374.83 on Thursday. The company has a market capitalization of $17.13 billion, a P/E ratio of 81.13, a P/E/G ratio of 0.59 and a beta of 1.97. The business has a fifty day simple moving average of $373.82 and a two-hundred day simple moving average of $374.16. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.29 and a quick ratio of 1.72. Talen Energy Corporation has a 1 year low of $158.08 and a 1 year high of $451.28.

Talen Energy (NASDAQ:TLN) last posted its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $4.25 earnings per share for the quarter, topping the consensus estimate of $4.01 by $0.24. Talen Energy had a return on equity of 13.52% and a net margin of 9.83%.The company had revenue of $812.00 million during the quarter, compared to the consensus estimate of $707.90 million. During the same quarter in the prior year, the company earned $3.16 EPS. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. On average, analysts expect that Talen Energy Corporation will post 15.94 earnings per share for the current year.

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).