Cannon Global Investment Management LLC Invests $625,000 in Talen Energy Corporation (NASDAQ:TLN)

Cannon Global Investment Management LLC acquired a new stake in 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 acquired 3,100 shares of the utilities provider's stock, valued at approximately $625,000. Talen Energy comprises 1.4% of Cannon Global Investment Management LLC's portfolio, making the stock its 24th biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TLN. Allworth Financial LP grew its holdings in Talen Energy by 170.6% during the fourth quarter. Allworth Financial LP now owns 184 shares of the utilities provider's stock worth $37,000 after acquiring an additional 116 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of Talen Energy in the fourth quarter worth $37,000. Geneos Wealth Management Inc. acquired a new stake in shares of Talen Energy during the fourth quarter valued at $39,000. BNP Paribas Financial Markets purchased a new stake in Talen Energy during the 3rd quarter worth about $36,000. Finally, Empowered Funds LLC acquired a new position in shares of Talen Energy in the fourth quarter valued at approximately $42,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Price Performance

Shares of NASDAQ TLN opened at $214.81 on Monday. The firm's 50-day simple moving average is $219.07 and its 200 day simple moving average is $188.68. The stock has a market cap of $9.87 billion, a P/E ratio of 11.50, a P/E/G ratio of 2.70 and a beta of 2.00. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07. Talen Energy Corporation has a fifty-two week low of $98.50 and a fifty-two week high of $258.03.

Analyst Ratings Changes

TLN has been the topic of a number of recent analyst reports. Daiwa Capital Markets set a $200.00 price target on Talen Energy in a research note on Wednesday, March 5th. 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 research report on Monday, December 9th. UBS Group raised their target price on Talen Energy from $242.00 to $269.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Morgan Stanley initiated coverage on Talen Energy in a research note on Wednesday, March 12th. They set an "overweight" rating and a $243.00 target price for the company. Finally, Barclays cut their target price on shares of Talen Energy from $293.00 to $282.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 4th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Talen Energy currently has a consensus rating of "Buy" and a consensus price target of $241.36.

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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.

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