Discovery Capital Management LLC CT Makes New $6.87 Million Investment in Talen Energy Corporation (NASDAQ:TLN)

Discovery Capital Management LLC CT purchased a new stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 34,100 shares of the utilities provider's stock, valued at approximately $6,870,000. Discovery Capital Management LLC CT owned about 0.07% of Talen Energy at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Allworth Financial LP raised its position in Talen Energy by 170.6% during the 4th quarter. Allworth Financial LP now owns 184 shares of the utilities provider's stock worth $37,000 after purchasing an additional 116 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Talen Energy in the fourth quarter worth approximately $37,000. Geneos Wealth Management Inc. bought a new stake in Talen Energy in the fourth quarter valued at approximately $39,000. BNP Paribas Financial Markets acquired a new stake in Talen Energy during the 3rd quarter valued at approximately $36,000. Finally, Empowered Funds LLC bought a new position in Talen Energy during the 4th quarter worth approximately $42,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Evercore ISI assumed coverage on shares of Talen Energy in a research note on Friday, February 21st. They set an "outperform" rating for the company. Morgan Stanley assumed coverage on Talen Energy in a research note on Wednesday, March 12th. They issued an "overweight" rating and a $243.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on Talen Energy from $295.00 to $265.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. UBS Group lifted their target price on Talen Energy from $242.00 to $269.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Finally, Daiwa Capital Markets set a $200.00 price target on Talen Energy in a report on Wednesday, March 5th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, Talen Energy currently has a consensus rating of "Buy" and a consensus price target of $241.09.

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Talen Energy Stock Down 5.4 %

TLN traded down $10.01 during trading on Friday, hitting $174.40. 2,379,726 shares of the company's stock were exchanged, compared to its average volume of 1,129,594. 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 business's 50 day moving average is $212.51 and its two-hundred day moving average is $193.44. The stock has a market cap of $7.94 billion, a P/E ratio of 9.34, a PEG ratio of 2.70 and a beta of 1.93. Talen Energy Corporation has a fifty-two week low of $98.50 and a fifty-two week high of $258.03.

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.