JPMorgan Chase & Co. Purchases Shares of 131,743 Talen Energy Corporation (NASDAQ:TLN)

JPMorgan Chase & Co. acquired a new position in Talen Energy Corporation (NASDAQ:TLN) in the third quarter, HoldingsChannel reports. The firm acquired 131,743 shares of the utilities provider’s stock, valued at approximately $23,482,000.

Other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new position in Talen Energy in the 3rd quarter worth approximately $36,000. Spirit of America Management Corp NY bought a new position in shares of Talen Energy in the third quarter worth approximately $214,000. World Equity Group Inc. bought a new position in shares of Talen Energy in the third quarter worth approximately $237,000. Point72 Hong Kong Ltd purchased a new position in shares of Talen Energy in the third quarter worth $257,000. Finally, Tidal Investments LLC bought a new stake in Talen Energy during the 3rd quarter valued at $304,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TLN shares. JPMorgan Chase & Co. assumed coverage on shares of Talen Energy in a report on Thursday, October 17th. They issued an “overweight” rating and a $268.00 price target on the stock. Guggenheim raised their target price on Talen Energy from $219.00 to $246.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Jefferies Financial Group assumed coverage on Talen Energy in a research report on Friday, September 13th. They set a “buy” rating and a $226.00 price target for the company. Barclays increased their price objective on Talen Energy from $202.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, UBS Group upped their target price on Talen Energy from $242.00 to $269.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $225.10.

Insider Buying and Selling at Talen Energy

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $204.35, for a total transaction of $999,988,155.45. Following the completion of the transaction, the insider now owns 6,475,107 shares of the company’s stock, valued at approximately $1,323,188,115.45. This trade represents a 43.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Talen Energy Trading Up 1.4 %

TLN opened at $215.59 on Thursday. The stock has a market cap of $10.96 billion and a PE ratio of 11.54. The business has a 50 day moving average of $206.17 and a 200-day moving average of $147.23. Talen Energy Corporation has a 52 week low of $62.86 and a 52 week high of $230.89. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07.

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.