Pictet Asset Management Holding SA Invests $101.93 Million in Talen Energy Corporation (NASDAQ:TLN)

Pictet Asset Management Holding SA acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 505,936 shares of the utilities provider's stock, valued at approximately $101,931,000. Pictet Asset Management Holding SA owned approximately 0.99% of Talen Energy as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Talen Energy during the 4th quarter worth about $2,819,000. Loomis Sayles & Co. L P boosted its holdings in shares of Talen Energy by 1.4% in the 4th quarter. Loomis Sayles & Co. L P now owns 216,116 shares of the utilities provider's stock valued at $43,541,000 after buying an additional 2,972 shares in the last quarter. Banco BTG Pactual S.A. purchased a new position in shares of Talen Energy in the 4th quarter valued at $341,000. Situational Awareness LP acquired a new stake in Talen Energy during the 4th quarter worth $27,980,000. Finally, Cannon Global Investment Management LLC purchased a new stake in Talen Energy in the fourth quarter valued at $625,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TLN shares. JPMorgan Chase & Co. dropped their price objective on Talen Energy from $295.00 to $265.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Evercore ISI initiated coverage on Talen Energy in a research note on Friday, February 21st. They set an "outperform" rating on the stock. UBS Group boosted their price objective on Talen Energy from $242.00 to $269.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Daiwa Capital Markets set a $200.00 target price on shares of Talen Energy in a research report on Wednesday, March 5th. Finally, Morgan Stanley initiated coverage on shares of Talen Energy in a report on Wednesday, March 12th. They issued an "overweight" rating and a $243.00 target price on the stock. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $241.09.

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Talen Energy Price Performance

Shares of TLN traded up $6.49 during mid-day trading on Wednesday, hitting $213.93. The company's stock had a trading volume of 339,612 shares, compared to its average volume of 1,116,404. The firm has a 50-day simple moving average of $215.88 and a 200 day simple moving average of $192.99. Talen Energy Corporation has a 1-year low of $98.50 and a 1-year high of $258.03. The firm has a market capitalization of $9.74 billion, a P/E ratio of 11.45, a P/E/G ratio of 2.70 and a beta of 2.00. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07.

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.