State Street Corp Purchases New Position in Talen Energy Corporation (NASDAQ:TLN)

State Street Corp acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 180,571 shares of the utilities provider’s stock, valued at approximately $32,185,000.

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

Insider Buying and Selling

In other Talen Energy 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 transaction of $999,988,155.45. Following the transaction, the insider now directly owns 6,475,107 shares in the company, valued at approximately $1,323,188,115.45. The trade was a 43.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by insiders.

Talen Energy Price Performance

Shares of TLN stock opened at $197.11 on Friday. The firm’s 50 day moving average price is $194.58 and its two-hundred day moving average price is $136.35. The stock has a market cap of $10.02 billion and a PE ratio of 10.55. Talen Energy Corporation has a 52-week low of $60.00 and a 52-week high of $230.89. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. UBS Group boosted their price objective on Talen Energy from $197.00 to $242.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Jefferies Financial Group initiated coverage on shares of Talen Energy in a report on Friday, September 13th. They set a “buy” rating and a $226.00 price objective on the stock. Daiwa Capital Markets initiated coverage on shares of Talen Energy in a research note on Wednesday, December 4th. They issued a “buy” rating and a $248.00 target price for the company. Royal Bank of Canada started coverage on shares of Talen Energy in a research note on Thursday, September 26th. They set an “outperform” rating and a $233.00 price target on the stock. Finally, Barclays raised their price target on shares of Talen Energy from $202.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Talen Energy presently has an average rating of “Buy” and a consensus price target of $222.40.

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.