Fmr LLC Makes New $141.36 Million Investment in Talen Energy Corporation (NASDAQ:TLN)

FMR LLC bought a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 793,105 shares of the utilities provider's stock, valued at approximately $141,363,000. FMR LLC owned approximately 1.56% of Talen Energy at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Spirit of America Management Corp NY purchased a new stake in Talen Energy in the 3rd quarter worth approximately $214,000. World Equity Group Inc. purchased a new stake in Talen Energy in the 3rd quarter worth approximately $237,000. Guidance Capital Inc. purchased a new stake in Talen Energy in the 3rd quarter worth approximately $348,000. Mount Yale Investment Advisors LLC purchased a new stake in Talen Energy in the 3rd quarter worth approximately $361,000. Finally, Mcdaniel Terry & Co. purchased a new stake in Talen Energy in the 3rd quarter worth approximately $371,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TLN has been the subject of several recent analyst reports. JPMorgan Chase & Co. assumed coverage on shares of Talen Energy in a research note on Thursday, October 17th. They issued an "overweight" rating and a $268.00 target price for the company. BWS Financial lifted their price target on shares of Talen Energy from $145.00 to $185.00 and gave the company a "buy" rating in a report on Friday, September 6th. UBS Group lifted their price target on shares of Talen Energy from $197.00 to $242.00 and gave the company a "buy" rating in a report on Friday, November 15th. Royal Bank of Canada assumed coverage on shares of Talen Energy in a report on Thursday, September 26th. They issued an "outperform" rating and a $233.00 price target on the stock. Finally, Guggenheim lifted their price target on shares of Talen Energy from $219.00 to $246.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $214.10.

Talen Energy Stock Up 4.3 %

Talen Energy stock traded up $9.08 during midday trading on Wednesday, hitting $221.71. 920,167 shares of the stock were exchanged, compared to its average volume of 669,681. Talen Energy Corporation has a 1 year low of $56.16 and a 1 year high of $224.78. The firm has a market cap of $11.27 billion and a P/E ratio of 11.87. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37. The company has a 50 day moving average price of $174.81 and a two-hundred day moving average price of $126.36.

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.