Charter Oak Advisors LP Has $100.64 Million Stock Holdings in Talen Energy Corporation $TLN

Charter Oak Advisors LP boosted its position in Talen Energy Corporation (NASDAQ:TLN) by 26.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 236,580 shares of the utilities provider’s stock after acquiring an additional 49,347 shares during the quarter. Talen Energy accounts for approximately 36.1% of Charter Oak Advisors LP’s portfolio, making the stock its largest holding. Charter Oak Advisors LP owned about 0.52% of Talen Energy worth $100,636,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TLN. American Century Companies Inc. boosted its stake in Talen Energy by 1.6% in the third quarter. American Century Companies Inc. now owns 342,914 shares of the utilities provider’s stock worth $145,870,000 after buying an additional 5,389 shares in the last quarter. Reaves W H & Co. Inc. lifted its holdings in shares of Talen Energy by 12.6% in 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 last quarter. Mutual Advisors LLC bought a new position in shares of Talen Energy during the 3rd quarter valued at $2,485,000. Principal Financial Group Inc. raised its position in Talen Energy by 2,067.8% in the 3rd 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 during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Talen Energy by 57.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 376,562 shares of the utilities provider’s stock valued at $160,182,000 after acquiring an additional 137,182 shares during the last quarter. Institutional investors own 0.38% of the company’s stock.

Talen Energy Trading Up 4.5%

NASDAQ:TLN opened at $335.11 on Tuesday. Talen Energy Corporation has a one year low of $158.08 and a one year high of $451.28. The company’s 50-day simple moving average is $365.32 and its 200 day simple moving average is $382.13. The firm has a market capitalization of $15.31 billion, a P/E ratio of -67.84, a PEG ratio of 0.47 and a beta of 1.94. The company has a debt-to-equity ratio of 6.20, a current ratio of 1.28 and a quick ratio of 1.02.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wells Fargo & Company lifted their price target on Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Morgan Stanley set a $474.00 price objective on shares of Talen Energy in a research note on Friday, February 20th. Barclays lowered their price target 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. Finally, Weiss Ratings lowered Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. Eleven 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $430.09.

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).