New Mexico Educational Retirement Board Buys Shares of 9,400 Talen Energy Corporation $TLN

New Mexico Educational Retirement Board bought a new position in Talen Energy Corporation (NASDAQ:TLN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,400 shares of the utilities provider’s stock, valued at approximately $3,999,000.

Several other large investors also recently made changes to their positions in the company. American Century Companies Inc. increased its position in Talen Energy by 1.6% in the 3rd quarter. American Century Companies Inc. now owns 342,914 shares of the utilities provider’s stock valued at $145,870,000 after acquiring an additional 5,389 shares during the period. Reaves W H & Co. Inc. boosted its position in Talen Energy by 12.6% during the 3rd quarter. Reaves W H & Co. Inc. now owns 1,410,537 shares of the utilities provider’s stock worth $600,014,000 after acquiring an additional 158,047 shares during the period. Mutual Advisors LLC bought a new position in shares of Talen Energy in the third quarter worth $2,485,000. Principal Financial Group Inc. grew its stake in shares of Talen Energy by 2,067.8% in the third quarter. Principal Financial Group Inc. now owns 101,452 shares of the utilities provider’s stock worth $43,156,000 after purchasing an additional 96,772 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Talen Energy by 57.3% during the third quarter. Bank of New York Mellon Corp now owns 376,562 shares of the utilities provider’s stock valued at $160,182,000 after purchasing an additional 137,182 shares during the period. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Trading Up 3.5%

Shares of Talen Energy stock opened at $338.60 on Thursday. The business has a fifty day simple moving average of $356.72 and a 200-day simple moving average of $379.60. Talen Energy Corporation has a fifty-two week low of $162.31 and a fifty-two week high of $451.28. The firm has a market cap of $15.47 billion, a price-to-earnings ratio of -68.54, a price-to-earnings-growth ratio of 0.47 and a beta of 1.94. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 6.20.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TLN shares. Wells Fargo & Company lifted 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 lowered their target price on shares of Talen Energy from $457.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 11th. BNP Paribas Exane began coverage on shares of Talen Energy in a research report on Wednesday. They set an “outperform” rating and a $548.00 price target on the stock. Morgan Stanley set a $474.00 price objective on shares of 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 report on Friday, February 27th. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $439.92.

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).