Everence Capital Management Inc. Invests $276,000 in Talen Energy Corporation (NASDAQ:TLN)

Everence Capital Management Inc. bought a new stake in shares of Talen Energy Corporation (NASDAQ:TLN) during the 4th quarter, Holdings Channel reports. The institutional investor bought 1,370 shares of the utilities provider’s stock, valued at approximately $276,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new position in shares of Talen Energy in the third quarter worth $23,482,000. SPX Gestao de Recursos Ltda acquired a new position in shares of Talen Energy in the 3rd quarter valued at $9,235,000. Tidal Investments LLC purchased a new position in Talen Energy in the 3rd quarter worth $304,000. Virtu Financial LLC acquired a new stake in Talen Energy during the 3rd quarter worth about $3,249,000. Finally, Geode Capital Management LLC purchased a new stake in Talen Energy during the 3rd quarter valued at about $100,317,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Guggenheim raised their price objective 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 shares of Talen Energy in a research note on Friday, September 13th. They set a “buy” rating and a $226.00 price objective for the company. Barclays increased their price objective on shares of Talen Energy from $202.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Royal Bank of Canada initiated coverage on shares of Talen Energy in a research report on Thursday, September 26th. They set an “outperform” rating and a $233.00 target price for the company. Finally, JPMorgan Chase & Co. initiated coverage on Talen Energy in a research report on Thursday, October 17th. They set an “overweight” rating and a $268.00 price target on the stock. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $225.10.

Talen Energy Stock Down 2.5 %

TLN opened at $212.71 on Wednesday. The company has a fifty day moving average of $205.34 and a two-hundred day moving average of $146.76. The stock has a market capitalization of $10.82 billion and a price-to-earnings ratio of 11.39. Talen Energy Corporation has a fifty-two week low of $62.86 and a fifty-two 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.

Insider Activity

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 6,475,107 shares of the company’s stock, valued at $1,323,188,115.45. This represents a 43.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

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.