Northwestern Mutual Investment Management Company LLC Acquires Shares of 10,184 Talen Energy Corporation $TLN

Northwestern Mutual Investment Management Company LLC bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the 3rd quarter, Holdings Channel.com reports. The fund bought 10,184 shares of the utilities provider’s stock, valued at approximately $4,332,000.

Several other hedge funds have also modified their holdings of the business. Norges Bank purchased a new stake in shares of Talen Energy in the second quarter valued at approximately $168,188,000. State Street Corp lifted its holdings in 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 acquiring an additional 427,910 shares during the period. Third Point LLC boosted its position in shares of Talen Energy by 34.2% during the 2nd quarter. Third Point LLC now owns 785,000 shares of the utilities provider’s stock worth $228,254,000 after purchasing an additional 200,000 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Talen Energy by 179.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 264,091 shares of the utilities provider’s stock worth $76,790,000 after purchasing an additional 169,734 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Talen Energy by 26.1% during the 2nd quarter. Geode Capital Management LLC now owns 794,754 shares of the utilities provider’s stock worth $231,150,000 after purchasing an additional 164,734 shares during the period. 0.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Talen Energy from $445.00 to $506.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Barclays dropped their target price on shares of Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a report on Wednesday, February 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Talen Energy in a research note on Wednesday, January 21st. Morgan Stanley raised their price objective on Talen Energy from $443.00 to $470.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Talen Energy from $432.00 to $442.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Talen Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $410.58.

Talen Energy Trading Up 2.4%

Shares of TLN opened at $376.70 on Monday. Talen Energy Corporation has a 1-year low of $158.08 and a 1-year high of $451.28. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.29 and a quick ratio of 1.72. The firm has a 50 day simple moving average of $366.57 and a 200-day simple moving average of $383.45. The stock has a market cap of $17.21 billion, a price-to-earnings ratio of 81.54, a price-to-earnings-growth ratio of 0.56 and a beta of 1.99.

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).