Fred Alger Management LLC Makes New Investment in Talen Energy Corporation (NASDAQ:TLN)

Fred Alger Management LLC acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 377,490 shares of the utilities provider's stock, valued at approximately $67,284,000. Fred Alger Management LLC owned about 0.74% of Talen Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TLN. BNP Paribas Financial Markets purchased a new stake in shares of Talen Energy during the 3rd quarter valued at approximately $36,000. Spirit of America Management Corp NY purchased a new position in shares of Talen Energy in the third quarter valued at $214,000. World Equity Group Inc. bought a new stake in shares of Talen Energy during the 3rd quarter valued at $237,000. Guidance Capital Inc. bought a new position in Talen Energy in the 3rd quarter worth about $348,000. Finally, Mount Yale Investment Advisors LLC purchased a new position in Talen Energy during the 3rd quarter valued at about $361,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TLN shares. Guggenheim boosted their price objective 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. UBS Group increased their price objective on Talen Energy from $197.00 to $242.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Oppenheimer boosted 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. Royal Bank of Canada began coverage on Talen Energy in a research report on Thursday, September 26th. They set an "outperform" rating and a $233.00 price target for the company. Finally, Barclays decreased their price objective on shares of Talen Energy from $207.00 to $202.00 and set an "overweight" rating on the stock in a research report on Monday, October 21st. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $210.33.

Talen Energy Trading Up 0.2 %

Talen Energy stock traded up $0.36 during trading hours on Friday, reaching $214.41. The stock had a trading volume of 215,543 shares, compared to its average volume of 668,691. 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 52 week low of $55.82 and a 52 week high of $222.49. The stock has a market cap of $10.90 billion and a PE ratio of 11.48. The company has a fifty day simple moving average of $169.19 and a 200-day simple moving average of $123.01.

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.