Concentric Capital Strategies LP Makes New $1.56 Million Investment in Talen Energy Corporation (NASDAQ:TLN)

Concentric Capital Strategies LP purchased a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 8,747 shares of the utilities provider's stock, valued at approximately $1,559,000.

A number of other hedge funds also recently bought and sold shares of the stock. Atalan Capital Partners LP acquired a new stake in Talen Energy in the 3rd quarter valued at about $126,016,000. Monarch Alternative Capital LP acquired a new stake in shares of Talen Energy during the 3rd quarter worth about $258,448,000. Point72 Hong Kong Ltd acquired a new stake in shares of Talen Energy during the 3rd quarter worth about $257,000. JAT Capital Mgmt LP acquired a new stake in shares of Talen Energy during the 3rd quarter worth about $2,513,000. Finally, Fred Alger Management LLC acquired a new stake in shares of Talen Energy during the 3rd quarter worth about $67,284,000. Institutional investors and hedge funds own 0.38% of the company's stock.

Talen Energy Stock Performance

Shares of TLN stock traded up $3.69 during midday trading on Tuesday, hitting $213.50. The company had a trading volume of 223,798 shares, compared to its average volume of 666,441. The company's 50 day simple moving average is $171.01 and its 200 day simple moving average is $124.72. Talen Energy Corporation has a 52-week low of $56.16 and a 52-week high of $222.49. The stock has a market cap of $10.86 billion and a price-to-earnings ratio of 11.23. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37.

Analyst Ratings Changes

TLN has been the topic of several research analyst reports. Oppenheimer raised their target price on Talen Energy from $165.00 to $210.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 24th. UBS Group lifted their price target on Talen Energy from $197.00 to $242.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Royal Bank of Canada initiated coverage on Talen Energy in a research report on Thursday, September 26th. They set an "outperform" rating and a $233.00 price target on the stock. Guggenheim lifted their price target on Talen Energy from $219.00 to $246.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Finally, Jefferies Financial Group initiated coverage on Talen Energy in a research report on Friday, September 13th. They set a "buy" rating and a $226.00 price target on the stock. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $210.33.

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.