Talen Energy Corporation (NASDAQ:TLN) Shares Sold by Jennison Associates LLC

Talen Energy logo with Oils/Energy background

Jennison Associates LLC cut its stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 36.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 367,377 shares of the utilities provider's stock after selling 209,596 shares during the quarter. Jennison Associates LLC owned about 0.72% of Talen Energy worth $74,015,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Rubric Capital Management LP purchased a new position in Talen Energy in the third quarter worth $2,026,342,000. River Road Asset Management LLC acquired a new stake in shares of Talen Energy in the 3rd quarter worth $277,653,000. Monarch Alternative Capital LP purchased a new position in Talen Energy during the 3rd quarter worth $258,448,000. Mirabella Financial Services LLP acquired a new position in Talen Energy during the 3rd quarter valued at about $168,108,000. Finally, Sachem Head Capital Management LP purchased a new stake in Talen Energy in the third quarter valued at about $167,724,000. 0.38% of the stock is owned by institutional investors.

Talen Energy Stock Performance

Shares of TLN traded up $1.43 during mid-day trading on Wednesday, reaching $235.85. The company had a trading volume of 826,003 shares, compared to its average volume of 1,330,052. The stock has a market capitalization of $11.99 billion, a P/E ratio of 12.63 and a beta of 1.70. Talen Energy Corporation has a 52-week low of $64.51 and a 52-week high of $258.03. The stock has a 50 day moving average of $216.08 and a two-hundred day moving average of $165.28. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07.

Insider Buying and Selling at Talen Energy

In related 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 value of $999,988,155.45. Following the completion of the transaction, the insider now owns 6,475,107 shares in the company, valued at $1,323,188,115.45. The trade was a 43.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Upgrades and Downgrades

TLN has been the topic of a number of research analyst reports. Oppenheimer boosted their price target on Talen Energy from $225.00 to $250.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. UBS Group upped their price target on shares of Talen Energy from $242.00 to $269.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Guggenheim lifted their price objective on shares of Talen Energy from $219.00 to $246.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Bank of America assumed coverage on Talen Energy in a research report on Monday. They issued a "buy" rating and a $253.00 target price on the stock. Finally, Daiwa Capital Markets started coverage on Talen Energy in a research report on Wednesday, December 4th. They set a "buy" rating and a $248.00 price target for the company. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $232.00.

Read Our Latest Stock Analysis on TLN

Talen Energy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Talen Energy (NASDAQ:TLN)

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