13,200 Shares in Talen Energy Corporation $TLN Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in Talen Energy Corporation (NASDAQ:TLN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,200 shares of the utilities provider’s stock, valued at approximately $4,214,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp raised its position in Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after acquiring an additional 627,467 shares during the last quarter. Norges Bank acquired a new stake in shares of Talen Energy in the fourth quarter valued at approximately $225,930,000. Invesco Ltd. grew its position in shares of Talen Energy by 77.5% in the third quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock valued at $452,189,000 after purchasing an additional 464,014 shares during the last quarter. Sachem Head Capital Management LP increased its stake in shares of Talen Energy by 72.4% during the 4th quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider’s stock worth $374,840,000 after purchasing an additional 420,000 shares in the last quarter. Finally, Deltroit Asset Management UK LLP purchased a new position in shares of Talen Energy during the 4th quarter worth approximately $103,081,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the sale, the director owned 2,606 shares in the company, valued at $990,280. The trade was a 49.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.78% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on TLN shares. The Goldman Sachs Group assumed coverage on Talen Energy in a research note on Thursday, June 18th. They issued a “buy” rating and a $499.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. BNP Paribas Exane assumed coverage on Talen Energy in a report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price target for the company. Morgan Stanley restated an “overweight” rating and issued a $508.00 price objective on shares of Talen Energy in a research report on Wednesday. Finally, Barclays raised their price target on shares of Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 19th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $458.77.

Talen Energy Price Performance

Shares of NASDAQ:TLN opened at $404.09 on Friday. The company has a market cap of $19.35 billion, a P/E ratio of -603.11 and a beta of 1.80. The business has a fifty day simple moving average of $374.08 and a 200-day simple moving average of $360.97. Talen Energy Corporation has a 52 week low of $255.50 and a 52 week high of $451.28. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32.

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).