Fred Alger Management LLC Takes $67.28 Million Position in Talen Energy Corporation (NASDAQ:TLN)

Fred Alger Management LLC bought a new stake in shares of Talen Energy Corporation (NASDAQ:TLN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 377,490 shares of the utilities provider’s stock, valued at approximately $67,284,000.

A number of other institutional investors have also recently added to or reduced their stakes in TLN. BNP Paribas Financial Markets acquired a new position in Talen Energy during the third quarter worth $36,000. Spirit of America Management Corp NY purchased a new stake in shares of Talen Energy during the third quarter worth about $214,000. World Equity Group Inc. acquired a new position in shares of Talen Energy during the 3rd quarter worth about $237,000. Shikiar Asset Management Inc. purchased a new position in Talen Energy in the 2nd quarter valued at about $278,000. Finally, Guidance Capital Inc. purchased a new position in shares of Talen Energy in the third quarter valued at approximately $348,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. BWS Financial raised their target price on shares of Talen Energy from $145.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. UBS Group boosted their price target on shares of Talen Energy from $197.00 to $242.00 and gave the company a “buy” rating in a research report on Friday, November 15th. 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 price objective for the company. Guggenheim boosted their target price on shares of Talen Energy from $219.00 to $246.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Oppenheimer increased their price target on shares of Talen Energy from $165.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Talen Energy has an average rating of “Buy” and an average target price of $210.33.

Talen Energy Price Performance

Talen Energy stock opened at $214.05 on Friday. The company’s 50 day simple moving average is $167.28 and its 200-day simple moving average is $122.03. 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 1 year low of $53.95 and a 1 year high of $222.49. The company has a market capitalization of $10.88 billion and a price-to-earnings ratio of 11.46.

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.