Talen Energy Corporation $TLN Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its position in Talen Energy Corporation (NASDAQ:TLN) by 19.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 334,391 shares of the utilities provider’s stock after acquiring an additional 54,868 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Talen Energy were worth $106,748,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Flagship Harbor Advisors LLC bought a new position in Talen Energy in the 4th quarter worth approximately $27,000. Neo Ivy Capital Management bought a new stake in Talen Energy during the 3rd quarter valued at $34,000. Advisory Services Network LLC acquired a new position in Talen Energy during the 3rd quarter worth $35,000. Northwestern Mutual Wealth Management Co. boosted its position in Talen Energy by 1,500.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 90 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Talen Energy in the fourth quarter worth $39,000. Institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Performance

TLN opened at $404.09 on Monday. The firm has a market cap of $19.36 billion, a PE ratio of -603.11 and a beta of 1.81. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32. The business has a fifty day simple moving average of $374.08 and a 200-day simple moving average of $361.03. Talen Energy Corporation has a fifty-two week low of $255.50 and a fifty-two week high of $451.28.

Analyst Ratings Changes

A number of research analysts have recently commented on TLN shares. BNP Paribas Exane initiated coverage on Talen Energy in a report on Wednesday, March 18th. They set an “outperform” rating and a $548.00 price target on the stock. Wells Fargo & Company increased their target price on shares of Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Barclays boosted their price target on shares of Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Finally, The Goldman Sachs Group initiated coverage on shares of Talen Energy in a research note on Thursday, June 18th. They issued a “buy” rating and a $499.00 price target for the company. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $458.77.

Insider Activity

In other news, Director Gizman I. Abbas sold 2,600 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the sale, the director directly owned 2,606 shares of the company’s stock, valued at $990,280. This represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.78% of the stock is owned by company insiders.

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).