Cinctive Capital Management LP Buys Shares of 6,051 Talen Energy Corporation (NASDAQ:TLN)

Cinctive Capital Management LP acquired 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 13F filing with the SEC. The firm acquired 6,051 shares of the utilities provider's stock, valued at approximately $1,079,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Shikiar Asset Management Inc. purchased a new stake in Talen Energy in the second quarter worth about $278,000. Allspring Global Investments Holdings LLC bought a new position in Talen Energy in the third quarter worth approximately $29,464,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Talen Energy in the third quarter worth approximately $7,967,000. Guidance Capital Inc. bought a new position in Talen Energy in the third quarter worth approximately $348,000. Finally, Mcdaniel Terry & Co. purchased a new stake in shares of Talen Energy in the third quarter worth $371,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Talen Energy Stock Performance

Shares of TLN stock traded up $9.08 during trading on Wednesday, reaching $221.71. The company had a trading volume of 920,167 shares, compared to its average volume of 669,681. The firm's 50 day simple moving average is $172.88 and its two-hundred day simple moving average is $125.70. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37. Talen Energy Corporation has a one year low of $56.16 and a one year high of $224.78. The company has a market capitalization of $11.27 billion and a PE ratio of 11.38.

Analyst Ratings Changes

A number of brokerages recently weighed in on TLN. Oppenheimer lifted their price objective on shares of Talen Energy from $165.00 to $210.00 and gave the company an "outperform" rating in a report on Tuesday, September 24th. Daiwa Capital Markets started coverage on shares of Talen Energy in a research report on Wednesday. They issued a "buy" rating and a $248.00 price objective on the stock. BWS Financial boosted their target price on shares of Talen Energy from $145.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Barclays decreased their price objective on shares of Talen Energy from $207.00 to $202.00 and set an "overweight" rating for the company in a research note on Monday, October 21st. Finally, Guggenheim boosted their target price on shares of Talen Energy from $219.00 to $246.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $214.10.

Talen Energy 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.