Envestnet Asset Management Inc. Acquires 10,522 Shares of Talen Energy Corporation (NASDAQ:TLN)

Envestnet Asset Management Inc. increased its position in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 113.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,806 shares of the utilities provider's stock after acquiring an additional 10,522 shares during the period. Envestnet Asset Management Inc.'s holdings in Talen Energy were worth $3,990,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. William Blair Investment Management LLC purchased a new stake in shares of Talen Energy in the 4th quarter worth $239,984,000. Pictet Asset Management Holding SA bought a new stake in Talen Energy during the fourth quarter valued at about $101,931,000. Clearbridge Investments LLC purchased a new stake in Talen Energy in the fourth quarter worth about $88,065,000. Vanguard Group Inc. increased its position in Talen Energy by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider's stock worth $964,302,000 after buying an additional 256,414 shares in the last quarter. Finally, Situational Awareness LP bought a new position in shares of Talen Energy in the fourth quarter worth about $27,980,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Wall Street Analyst Weigh In

TLN has been the subject of a number of recent research reports. Daiwa Capital Markets set a $200.00 price objective on Talen Energy in a research note on Wednesday, March 5th. UBS Group dropped their price target on shares of Talen Energy from $275.00 to $259.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Bank of America began coverage on shares of Talen Energy in a research report on Monday, February 3rd. They set a "buy" rating and a $253.00 price objective on the stock. Evercore ISI began coverage on shares of Talen Energy in a report on Friday, February 21st. They issued an "outperform" rating for the company. Finally, JPMorgan Chase & Co. decreased their price target on Talen Energy from $295.00 to $265.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $240.18.

Talen Energy Price Performance

Shares of TLN stock traded up $0.55 during trading hours on Friday, hitting $211.56. The stock had a trading volume of 703,847 shares, compared to its average volume of 1,114,897. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37. The stock has a market capitalization of $9.63 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 2.70 and a beta of 1.93. Talen Energy Corporation has a one year low of $98.50 and a one year high of $258.03. The stock's 50-day moving average price is $201.72 and its two-hundred day moving average price is $203.55.

Talen Energy Profile

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.