Cartenna Capital LP Makes New $7.93 Million Investment in Talen Energy Corporation (NASDAQ:TLN)

Cartenna Capital LP bought a new stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 39,367 shares of the utilities provider's stock, valued at approximately $7,931,000. Talen Energy comprises about 0.4% of Cartenna Capital LP's holdings, making the stock its 29th biggest position. Cartenna Capital LP owned 0.08% of Talen Energy at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Allworth Financial LP increased its position in shares of 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 purchased a new position in Talen Energy during the 4th quarter worth $37,000. Geneos Wealth Management Inc. bought a new stake in Talen Energy during the 4th quarter valued at $39,000. Empowered Funds LLC purchased a new stake in shares of Talen Energy in the 4th quarter worth $42,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Talen Energy during the 4th quarter worth $53,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Talen Energy Trading Up 3.6 %

NASDAQ TLN opened at $204.66 on Thursday. The stock has a market cap of $9.31 billion, a P/E ratio of 10.96, a P/E/G ratio of 2.70 and a beta of 1.93. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07. Talen Energy Corporation has a 12-month low of $98.50 and a 12-month high of $258.03. The company has a fifty day simple moving average of $203.11 and a two-hundred day simple moving average of $201.84.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Evercore ISI initiated coverage on shares of Talen Energy in a report on Friday, February 21st. They issued an "outperform" rating for the company. Bank of America began coverage on Talen Energy in a report on Monday, February 3rd. They set a "buy" rating and a $253.00 target price for the company. Morgan Stanley began coverage on Talen Energy in a report on Wednesday, March 12th. They issued an "overweight" rating and a $243.00 price target on the stock. Daiwa Capital Markets set a $200.00 price objective on Talen Energy in a research note on Wednesday, March 5th. Finally, UBS Group cut their target price on Talen Energy from $275.00 to $259.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $240.18.

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.

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