Jennison Associates LLC Makes New $102.84 Million Investment in Talen Energy Corporation (NASDAQ:TLN)

Jennison Associates LLC purchased a new stake in Talen Energy Corporation (NASDAQ:TLN) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 576,973 shares of the utilities provider’s stock, valued at approximately $102,840,000. Jennison Associates LLC owned about 1.13% of Talen Energy at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Spirit of America Management Corp NY acquired a new position in shares of Talen Energy in the 3rd quarter worth $214,000. World Equity Group Inc. purchased a new position in Talen Energy in the 3rd quarter worth about $237,000. Guidance Capital Inc. acquired a new stake in Talen Energy during the 3rd quarter worth about $348,000. Mount Yale Investment Advisors LLC purchased a new stake in Talen Energy during the third quarter valued at about $361,000. Finally, Mcdaniel Terry & Co. purchased a new position in shares of Talen Energy in the third quarter worth approximately $371,000. Institutional investors own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

TLN has been the subject of several research analyst reports. Barclays reduced their price target on shares of Talen Energy from $207.00 to $202.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Jefferies Financial Group started coverage on Talen Energy in a research report on Friday, September 13th. They issued a “buy” rating and a $226.00 target price for the company. BWS Financial upped their price target on Talen Energy from $145.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. initiated coverage on Talen Energy in a research note on Thursday, October 17th. They issued an “overweight” rating and a $268.00 price objective for the company. Finally, Guggenheim lifted their target price on Talen Energy from $219.00 to $246.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Talen Energy currently has an average rating of “Buy” and a consensus price target of $210.33.

Talen Energy Trading Down 4.0 %

Shares of NASDAQ TLN opened at $206.09 on Thursday. The stock has a market cap of $10.48 billion and a price-to-earnings ratio of 11.03. The business has a 50 day simple moving average of $155.30 and a 200 day simple moving average of $116.38. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10. Talen Energy Corporation has a 52 week low of $53.95 and a 52 week high of $221.14.

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.