3,100 Shares in Talen Energy Corporation (NASDAQ:TLN) Acquired by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,100 shares of the utilities provider's stock, valued at approximately $625,000. Talen Energy accounts for 1.4% of Cannon Global Investment Management LLC's portfolio, making the stock its 24th largest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rubric Capital Management LP bought a new stake in shares of Talen Energy during the third quarter valued at approximately $2,026,342,000. Monarch Alternative Capital LP purchased a new position in Talen Energy during the third quarter valued at $258,448,000. William Blair Investment Management LLC bought a new stake in shares of Talen Energy during the 4th quarter valued at $239,984,000. Mirabella Financial Services LLP purchased a new stake in shares of Talen Energy in the 3rd quarter worth about $168,108,000. Finally, Sachem Head Capital Management LP bought a new position in shares of Talen Energy in the 3rd quarter worth about $167,724,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Talen Energy Stock Performance

Shares of NASDAQ:TLN traded down $5.31 during midday trading on Friday, reaching $197.48. 849,915 shares of the company's stock traded hands, compared to its average volume of 1,122,763. Talen Energy Corporation has a one year low of $98.50 and a one year high of $258.03. The stock has a 50 day moving average of $217.31 and a 200 day moving average of $190.80. The company has a market cap of $8.99 billion, a price-to-earnings ratio of 10.57, a P/E/G ratio of 2.70 and a beta of 2.00. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10.

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Analyst Upgrades and Downgrades

Several research firms recently commented on TLN. Oppenheimer boosted their price objective on shares of Talen Energy from $225.00 to $250.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. UBS Group boosted their price target on Talen Energy from $242.00 to $269.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Daiwa Capital Markets set a $200.00 price objective on Talen Energy in a research report on Wednesday, March 5th. Barclays lowered their price objective on Talen Energy from $293.00 to $282.00 and set an "overweight" rating for the company in a research note on Tuesday, March 4th. Finally, Bank of America started coverage on Talen Energy in a research note on Monday, February 3rd. They issued a "buy" rating and a $253.00 target price on the stock. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $241.09.

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.