First Sabrepoint Capital Management LP Makes New $6.24 Million Investment in Talen Energy Corporation (NASDAQ:TLN)

First Sabrepoint Capital Management LP purchased a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 35,000 shares of the utilities provider's stock, valued at approximately $6,238,000. Talen Energy comprises 1.8% of First Sabrepoint Capital Management LP's investment portfolio, making the stock its 19th largest holding. First Sabrepoint Capital Management LP owned 0.07% of Talen Energy at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Shikiar Asset Management Inc. bought a new position in Talen Energy during the second quarter worth about $278,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Talen Energy during the 3rd quarter valued at approximately $29,464,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Talen Energy in the 3rd quarter worth approximately $7,967,000. Guidance Capital Inc. purchased a new position in Talen Energy in the 3rd quarter valued at approximately $348,000. Finally, Mcdaniel Terry & Co. bought a new stake in Talen Energy during the 3rd quarter valued at $371,000. Institutional investors own 0.38% of the company's stock.

Talen Energy Price Performance

TLN stock traded down $6.40 during midday trading on Tuesday, reaching $202.28. The company had a trading volume of 838,608 shares, compared to its average volume of 671,672. The firm has a 50-day moving average price of $180.39 and a 200-day moving average price of $129.70. The company has a market capitalization of $10.29 billion and a P/E ratio of 11.17. Talen Energy Corporation has a 1 year low of $58.00 and a 1 year high of $230.89. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37.

Wall Street Analyst Weigh In

TLN has been the subject of a number of analyst reports. BWS Financial raised their price target on Talen Energy from $145.00 to $185.00 and gave the stock a "buy" rating in a report on Friday, September 6th. UBS Group raised their target price on Talen Energy from $197.00 to $242.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Oppenheimer upped their price target on Talen Energy from $225.00 to $250.00 and gave the company an "outperform" rating in a research report on Monday. Royal Bank of Canada began coverage on shares of Talen Energy in a research report on Thursday, September 26th. They issued an "outperform" rating and a $233.00 price objective for the company. Finally, Jefferies Financial Group started 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. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, Talen Energy presently has a consensus rating of "Buy" and an average target price of $218.10.

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.