South Dakota Investment Council Takes $1.49 Million Position in Talen Energy Corporation $TLN

South Dakota Investment Council purchased a new stake in shares of Talen Energy Corporation (NASDAQ:TLN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,500 shares of the utilities provider’s stock, valued at approximately $1,489,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. MAI Capital Management lifted its stake in shares of Talen Energy by 115.7% during the 2nd quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock worth $32,000 after buying an additional 59 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of Talen Energy by 8.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 787 shares of the utilities provider’s stock valued at $335,000 after buying an additional 59 shares in the last quarter. Main Management ETF Advisors LLC raised its holdings in shares of Talen Energy by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 3,665 shares of the utilities provider’s stock worth $1,066,000 after buying an additional 60 shares in the last quarter. Wedbush Securities Inc. boosted its stake in shares of Talen Energy by 4.8% in the 2nd quarter. Wedbush Securities Inc. now owns 1,379 shares of the utilities provider’s stock valued at $401,000 after purchasing an additional 63 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Talen Energy by 581.8% during the third quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock worth $32,000 after buying an additional 64 shares in the last quarter. 0.38% of the stock is owned by institutional investors.

Talen Energy Stock Performance

Shares of NASDAQ TLN opened at $334.86 on Friday. The stock has a market cap of $15.30 billion, a price-to-earnings ratio of -67.79, a P/E/G ratio of 0.50 and a beta of 1.94. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 6.20. Talen Energy Corporation has a 1-year low of $158.08 and a 1-year high of $451.28. The stock’s 50-day moving average is $367.50 and its 200 day moving average is $382.43.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Barclays lowered their price objective on shares of Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. Morgan Stanley set a $474.00 price objective on Talen Energy in a report on Friday, February 20th. Finally, Weiss Ratings cut shares of Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, February 27th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $430.09.

Talen Energy 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).