SPX Gestao de Recursos Ltda Invests $9.24 Million in Talen Energy Corporation (NASDAQ:TLN)

SPX Gestao de Recursos Ltda purchased a new stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 51,810 shares of the utilities provider's stock, valued at approximately $9,235,000. Talen Energy comprises 1.2% of SPX Gestao de Recursos Ltda's investment portfolio, making the stock its 20th biggest holding. SPX Gestao de Recursos Ltda owned 0.10% of Talen Energy at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TLN. Allspring Global Investments Holdings LLC acquired a new stake in shares of Talen Energy in the third quarter worth $29,464,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in Talen Energy during the 3rd quarter worth about $7,967,000. Guidance Capital Inc. purchased a new position in shares of Talen Energy during the 3rd quarter valued at about $348,000. Mcdaniel Terry & Co. acquired a new position in shares of Talen Energy in the 3rd quarter valued at about $371,000. Finally, Spirit of America Management Corp NY purchased a new stake in shares of Talen Energy in the third quarter worth about $214,000. 0.38% of the stock is owned by institutional investors and hedge funds.

Talen Energy Price Performance

TLN stock traded down $1.96 during trading on Friday, hitting $207.46. The stock had a trading volume of 371,938 shares, compared to its average volume of 670,646. Talen Energy Corporation has a twelve month low of $58.28 and a twelve month high of $230.89. The company's 50-day moving average price is $187.01 and its two-hundred day moving average price is $132.47. 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 stock has a market capitalization of $10.55 billion and a P/E ratio of 11.11.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Royal Bank of Canada initiated coverage on Talen Energy in a research report on Thursday, September 26th. They set an "outperform" rating and a $233.00 price target for the company. Guggenheim increased 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 research report on Friday, September 13th. They set a "buy" rating and a $226.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on shares of Talen Energy in a research report on Thursday, October 17th. They issued an "overweight" rating and a $268.00 price objective for the company. Finally, Oppenheimer raised their target price on Talen Energy from $225.00 to $250.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $222.40.

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.