Charter Oak Advisors LP Invests $21.76 Million in Talen Energy Corporation (NASDAQ:TLN)

Charter Oak Advisors LP bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 108,002 shares of the utilities provider's stock, valued at approximately $21,759,000. Talen Energy comprises about 12.5% of Charter Oak Advisors LP's holdings, making the stock its 2nd largest position. Charter Oak Advisors LP owned 0.21% of Talen Energy at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TLN. JPMorgan Chase & Co. acquired a new position in shares of Talen Energy during the 3rd quarter valued at $23,482,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Talen Energy in the fourth quarter valued at $240,000. Vanguard Group Inc. increased its position in Talen Energy by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider's stock valued at $964,302,000 after buying an additional 256,414 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Talen Energy by 37.3% during the fourth quarter. Rhumbline Advisers now owns 5,530 shares of the utilities provider's stock valued at $1,114,000 after acquiring an additional 1,503 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in Talen Energy during the fourth quarter worth $5,794,000. Institutional investors and hedge funds own 0.38% of the company's stock.

Talen Energy Stock Performance

Talen Energy stock traded up $0.26 during trading on Friday, hitting $203.46. The stock had a trading volume of 649,626 shares, compared to its average volume of 1,125,105. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07. The stock's 50 day moving average is $205.60 and its two-hundred day moving average is $199.34. Talen Energy Corporation has a 1 year low of $98.50 and a 1 year high of $258.03. The stock has a market cap of $9.26 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 2.70 and a beta of 1.93.

Analyst Ratings Changes

A number of equities analysts have issued reports on TLN shares. Daiwa Capital Markets set a $200.00 price target on Talen Energy in a research note on Wednesday, March 5th. Barclays cut their target price on Talen Energy from $293.00 to $282.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 4th. Bank of America began coverage on Talen Energy in a research note on Monday, February 3rd. They set a "buy" rating and a $253.00 price objective on the stock. UBS Group reduced their target price on shares of Talen Energy from $275.00 to $259.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, Morgan Stanley started coverage on shares of Talen Energy in a research report on Wednesday, March 12th. They set an "overweight" rating and a $243.00 price target on the stock. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently 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.