Jennison Associates LLC Reduces Stake in Talen Energy Corporation (NASDAQ:TLN)

Jennison Associates LLC lowered its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 36.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 367,377 shares of the utilities provider’s stock after selling 209,596 shares during the period. Jennison Associates LLC owned 0.72% of Talen Energy worth $74,015,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Rubric Capital Management LP purchased a new stake in Talen Energy in the third quarter worth $2,026,342,000. River Road Asset Management LLC purchased a new stake in Talen Energy in the 3rd quarter worth about $277,653,000. Monarch Alternative Capital LP bought a new stake in Talen Energy in the 3rd quarter valued at about $258,448,000. Mirabella Financial Services LLP purchased a new stake in Talen Energy during the third quarter valued at about $168,108,000. Finally, Sachem Head Capital Management LP bought a new position in Talen Energy during the third quarter worth about $167,724,000. Institutional investors own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TLN shares. Barclays boosted their price target on shares of Talen Energy from $245.00 to $293.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Oppenheimer increased their target price on Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Daiwa Capital Markets initiated coverage on Talen Energy in a research report on Wednesday, December 4th. They issued a “buy” rating and a $248.00 price target for the company. Guggenheim increased their price objective on Talen Energy from $219.00 to $246.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. began coverage on Talen Energy in a report on Thursday, October 17th. They set an “overweight” rating and a $268.00 target price for the company. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Talen Energy currently has an average rating of “Buy” and a consensus price target of $232.00.

Insider Buying and Selling at Talen Energy

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of Talen Energy stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $204.35, for a total transaction of $999,988,155.45. Following the completion of the sale, the insider now owns 6,475,107 shares of the company’s stock, valued at $1,323,188,115.45. The trade was a 43.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Talen Energy Stock Up 4.1 %

Shares of NASDAQ TLN opened at $230.85 on Tuesday. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average of $215.28 and a 200-day moving average of $163.88. The firm has a market capitalization of $11.74 billion, a price-to-earnings ratio of 12.36 and a beta of 1.70. Talen Energy Corporation has a 12 month low of $64.51 and a 12 month high of $258.03.

About Talen Energy

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.