JPMorgan Chase & Co. Invests $23.48 Million in Talen Energy Corporation (NASDAQ:TLN)

JPMorgan Chase & Co. purchased a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 131,743 shares of the utilities provider's stock, valued at approximately $23,482,000. JPMorgan Chase & Co. owned 0.26% of Talen Energy as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. XTX Topco Ltd acquired a new stake in Talen Energy during the 3rd quarter worth approximately $520,000. Roubaix Capital LLC acquired a new stake in shares of Talen Energy in the third quarter valued at $11,234,000. Monarch Alternative Capital LP purchased a new position in Talen Energy in the third quarter valued at $258,448,000. First Sabrepoint Capital Management LP acquired a new position in Talen Energy during the 3rd quarter worth $6,238,000. Finally, M&G PLC purchased a new stake in Talen Energy during the 3rd quarter worth about $14,797,000. 0.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Talen Energy

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the business'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 value of $999,988,155.45. Following the transaction, the insider now owns 6,475,107 shares of the company's stock, 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 document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by insiders.

Talen Energy Stock Performance

Shares of TLN stock traded up $2.88 during trading hours on Thursday, hitting $215.59. The stock had a trading volume of 1,001,181 shares, compared to its average volume of 809,936. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37. The firm has a market capitalization of $10.96 billion and a PE ratio of 11.54. The stock's 50 day moving average is $206.17 and its 200 day moving average is $147.23. Talen Energy Corporation has a twelve month low of $62.86 and a twelve month high of $230.89.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TLN shares. Barclays lifted their price objective on Talen Energy from $202.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Guggenheim boosted their price target on shares of Talen Energy from $219.00 to $246.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Jefferies Financial Group began coverage on shares of Talen Energy in a report on Friday, September 13th. They issued a "buy" rating and a $226.00 price objective on the stock. Daiwa Capital Markets began coverage on shares of Talen Energy in a research note on Wednesday, December 4th. They set a "buy" rating and a $248.00 target price for the company. Finally, Royal Bank of Canada initiated coverage on Talen Energy in a research note on Thursday, September 26th. They issued an "outperform" rating and a $233.00 price target on the stock. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Talen Energy currently has a consensus rating of "Buy" and a consensus price target of $225.10.

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.