Harbor Capital Advisors Inc. Invests $1.37 Million in Talen Energy Corporation (NASDAQ:TLN)

Harbor Capital Advisors Inc. bought a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,773 shares of the utilities provider's stock, valued at approximately $1,365,000.

A number of other hedge funds have also added to or reduced their stakes in TLN. Rubric Capital Management LP bought a new stake in Talen Energy during the third quarter valued at approximately $2,026,342,000. River Road Asset Management LLC bought a new stake in shares of Talen Energy during the 3rd quarter valued at $277,653,000. Monarch Alternative Capital LP purchased a new stake in shares of Talen Energy in the 3rd quarter worth $258,448,000. Mirabella Financial Services LLP purchased a new stake in shares of Talen Energy in the 3rd quarter worth $168,108,000. Finally, Sachem Head Capital Management LP bought a new position in Talen Energy in the 3rd quarter worth $167,724,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Daiwa Capital Markets began coverage on Talen Energy in a research report on Wednesday, December 4th. They issued a "buy" rating and a $248.00 price target for the company. UBS Group raised their target price on shares of Talen Energy from $242.00 to $269.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Barclays upped their price target on shares of Talen Energy from $202.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. JPMorgan Chase & Co. started coverage on shares of Talen Energy in a research report on Thursday, October 17th. They set an "overweight" rating and a $268.00 price objective on the stock. Finally, Oppenheimer upped their target price on shares of Talen Energy from $225.00 to $250.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $225.10.

Talen Energy Price Performance

Shares of NASDAQ:TLN traded down $9.31 during mid-day trading on Monday, reaching $212.49. The stock had a trading volume of 556,994 shares, compared to its average volume of 897,039. The company has a market cap of $10.81 billion and a P/E ratio of 11.38. The business's 50 day moving average price is $207.81 and its 200 day moving average price is $149.30. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07. Talen Energy Corporation has a 1 year low of $64.50 and a 1 year high of $230.89.

Insider Transactions at Talen Energy

In related news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of Talen Energy stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $204.35, for a total value of $999,988,155.45. Following the completion of the transaction, the insider now owns 6,475,107 shares in the company, valued at approximately $1,323,188,115.45. This trade represents a 43.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company's stock.

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.