Harvest Fund Management Co. Ltd Makes New Investment in Talen Energy Corporation (NASDAQ:TLN)

Harvest Fund Management Co. Ltd bought a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,391 shares of the utilities provider's stock, valued at approximately $481,000.

Several other hedge funds also recently made changes to their positions in the company. Allworth Financial LP grew its holdings in Talen Energy by 170.6% during the fourth quarter. Allworth Financial LP now owns 184 shares of the utilities provider's stock worth $37,000 after acquiring an additional 116 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of Talen Energy during the 4th quarter worth $37,000. Geneos Wealth Management Inc. acquired a new position in shares of Talen Energy during the 4th quarter worth $39,000. BNP Paribas Financial Markets purchased a new position in shares of Talen Energy in the 3rd quarter valued at about $36,000. Finally, Empowered Funds LLC acquired a new stake in shares of Talen Energy in the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 0.38% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Evercore ISI began coverage on shares of Talen Energy in a research report on Friday, February 21st. They set an "outperform" rating on the stock. Morgan Stanley assumed coverage on Talen Energy in a report on Wednesday, March 12th. They issued an "overweight" rating and a $243.00 price target on the stock. UBS Group raised their price objective on Talen Energy from $242.00 to $269.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Oppenheimer boosted their target price on Talen Energy from $225.00 to $250.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. Finally, Barclays lowered their target price on Talen Energy from $293.00 to $282.00 and set an "overweight" rating on the stock in a report on Tuesday, March 4th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Talen Energy has an average rating of "Buy" and a consensus price target of $241.36.

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Talen Energy Price Performance

Talen Energy stock traded down $1.23 during midday trading on Tuesday, reaching $217.73. 1,081,748 shares of the company were exchanged, compared to its average volume of 1,112,347. The firm's 50-day simple moving average is $219.15 and its 200-day simple moving average is $190.08. Talen Energy Corporation has a 1 year low of $98.50 and a 1 year high of $258.03. The company has a market capitalization of $10.01 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 2.70 and a beta of 2.00. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10.

About Talen Energy

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.