505,936 Shares in Talen Energy Corporation (NASDAQ:TLN) Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA acquired a new stake in shares of Talen Energy Corporation (NASDAQ:TLN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 505,936 shares of the utilities provider’s stock, valued at approximately $101,931,000. Pictet Asset Management Holding SA owned about 0.99% of Talen Energy at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company bought a new stake in shares of Talen Energy in the 3rd quarter valued at approximately $2,624,000. FMR LLC bought a new stake in Talen Energy during the third quarter valued at $141,363,000. BNP Paribas Financial Markets acquired a new stake in shares of Talen Energy during the third quarter worth $36,000. Bridgewater Associates LP bought a new position in shares of Talen Energy in the 3rd quarter worth about $4,277,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Talen Energy in the 3rd quarter worth about $543,000. 0.38% of the stock is owned by institutional investors and hedge funds.

Talen Energy Price Performance

NASDAQ TLN opened at $197.48 on Friday. Talen Energy Corporation has a 12 month low of $98.50 and a 12 month high of $258.03. The firm has a market capitalization of $8.99 billion, a PE ratio of 10.57, a P/E/G ratio of 2.70 and a beta of 2.00. The company’s 50 day simple moving average is $217.31 and its 200 day simple moving average is $190.80. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Bank of America assumed coverage on shares of Talen Energy in a report on Monday, February 3rd. They issued a “buy” rating and a $253.00 target price on the stock. Morgan Stanley began coverage on Talen Energy in a report on Wednesday, March 12th. They issued an “overweight” rating and a $243.00 price target on the stock. Evercore ISI began coverage on Talen Energy in a research note on Friday, February 21st. They set an “outperform” rating for the company. Daiwa Capital Markets set a $200.00 target price on Talen Energy in a research note on Wednesday, March 5th. Finally, Barclays lowered their price target on shares of Talen Energy from $293.00 to $282.00 and set an “overweight” rating for the company in a research report on Tuesday, March 4th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $241.09.

Talen Energy Company 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.