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

Pictet Asset Management Holding SA bought a new stake in shares of Talen Energy Corporation (NASDAQ:TLN) in the 4th quarter, HoldingsChannel reports. The firm bought 505,936 shares of the utilities provider’s stock, valued at approximately $101,931,000.

A number of other large investors have also recently added to or reduced their stakes in TLN. XTX Topco Ltd purchased a new stake in Talen Energy during the third quarter valued at about $520,000. JPMorgan Chase & Co. purchased a new stake in shares of Talen Energy in the 3rd quarter valued at approximately $23,482,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Talen Energy in the 4th quarter worth approximately $240,000. Monarch Alternative Capital LP purchased a new position in Talen Energy during the 3rd quarter worth approximately $258,448,000. Finally, First Sabrepoint Capital Management LP acquired a new stake in Talen Energy during the 3rd quarter valued at $6,238,000. 0.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TLN has been the topic of a number of research analyst reports. Barclays lowered their price target on Talen Energy from $293.00 to $282.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. Evercore ISI assumed coverage on Talen Energy in a research note on Friday, February 21st. They set an “outperform” rating on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Talen Energy from $295.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday. Oppenheimer lifted their target price on shares of Talen Energy from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, UBS Group upped their price target on shares of Talen Energy from $242.00 to $269.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, Talen Energy presently has an average rating of “Buy” and a consensus price target of $241.09.

Talen Energy Price Performance

NASDAQ TLN opened at $197.48 on Friday. The company has a market cap of $8.99 billion, a P/E ratio of 10.57, a P/E/G ratio of 2.70 and a beta of 2.00. Talen Energy Corporation has a 1 year low of $98.50 and a 1 year high of $258.03. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07. The company has a fifty day simple moving average of $217.31 and a 200 day simple moving average of $190.80.

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.