Clearbridge Investments LLC Acquires Shares of 437,111 Talen Energy Corporation (NASDAQ:TLN)

Clearbridge Investments LLC purchased a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 437,111 shares of the utilities provider's stock, valued at approximately $88,065,000. Clearbridge Investments LLC owned 0.86% of Talen Energy at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TLN. Allworth Financial LP increased its stake in shares of Talen Energy by 170.6% in the fourth quarter. Allworth Financial LP now owns 184 shares of the utilities provider's stock worth $37,000 after buying an additional 116 shares during the period. Jones Financial Companies Lllp purchased a new position in shares of Talen Energy in the fourth quarter valued at about $37,000. Geneos Wealth Management Inc. bought a new position in shares of Talen Energy during the fourth quarter valued at about $39,000. BNP Paribas Financial Markets purchased a new stake in shares of Talen Energy during the third quarter worth about $36,000. Finally, Empowered Funds LLC bought a new stake in shares of Talen Energy in the fourth quarter worth about $42,000. Institutional investors own 0.38% of the company's stock.

Talen Energy Stock Down 5.4 %

Shares of NASDAQ TLN traded down $10.01 on Friday, reaching $174.40. 2,379,726 shares of the company's stock traded hands, compared to its average volume of 1,129,594. The business's 50 day simple moving average is $212.51 and its two-hundred day simple moving average is $193.94. Talen Energy Corporation has a 12 month low of $98.50 and a 12 month high of $258.03. The company has a market cap of $7.94 billion, a price-to-earnings ratio of 9.34, a price-to-earnings-growth ratio of 2.70 and a beta of 1.93. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07.

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Analyst Ratings Changes

A number of research analysts have commented on the company. Daiwa Capital Markets set a $200.00 price target on Talen Energy in a research report on Wednesday, March 5th. Evercore ISI assumed coverage on Talen Energy in a research note on Friday, February 21st. They issued an "outperform" rating for the company. Oppenheimer lifted their price target on shares of Talen Energy from $225.00 to $250.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Barclays decreased their price objective on shares of Talen Energy from $293.00 to $282.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. Finally, Morgan Stanley initiated coverage on shares of Talen Energy in a research note on Wednesday, March 12th. They set an "overweight" rating and a $243.00 target price on the stock. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $241.09.

Talen Energy 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.