First Financial Bankshares Inc Makes New $2.93 Million Investment in Talen Energy Corporation $TLN

First Financial Bankshares Inc purchased a new position in Talen Energy Corporation (NASDAQ:TLN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,879 shares of the utilities provider’s stock, valued at approximately $2,926,000.

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

Talen Energy Stock Performance

Shares of NASDAQ:TLN opened at $367.84 on Tuesday. The company has a current ratio of 2.29, a quick ratio of 1.72 and a debt-to-equity ratio of 2.02. The company has a 50-day moving average price of $369.21 and a 200-day moving average price of $383.38. The company has a market cap of $16.81 billion, a price-to-earnings ratio of 79.62, a price-to-earnings-growth ratio of 0.57 and a beta of 1.99. Talen Energy Corporation has a 12 month low of $158.08 and a 12 month high of $451.28.

Wall Street Analysts Forecast Growth

TLN has been the subject of a number of recent research reports. Barclays dropped their target price on Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. Weiss Ratings restated a “hold (c)” rating on shares of Talen Energy in a report on Wednesday, January 21st. Morgan Stanley set a $474.00 price objective on shares of Talen Energy in a research note on Friday. Finally, Wells Fargo & Company increased their target price on shares of Talen Energy from $445.00 to $506.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $410.92.

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).