Magnetar Financial LLC Invests $824,000 in Talen Energy Corporation (NASDAQ:TLN)

Magnetar Financial LLC bought a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,088 shares of the utilities provider's stock, valued at approximately $824,000.

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

Talen Energy Stock Performance

TLN traded down $1.23 during trading on Tuesday, hitting $217.73. The stock had a trading volume of 1,081,748 shares, compared to its average volume of 1,112,347. 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 12 month low of $98.50 and a 12 month high of $258.03. The company has a 50 day simple moving average of $219.15 and a 200-day simple moving average of $190.08. The firm has a market cap of $10.01 billion, a PE ratio of 11.66, a P/E/G ratio of 2.70 and a beta of 2.00.

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Analysts Set New Price Targets

A number of research analysts have commented on TLN shares. Barclays dropped their target price on Talen Energy from $293.00 to $282.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 4th. Morgan Stanley started coverage on Talen Energy in a report on Wednesday, March 12th. They issued an "overweight" rating and a $243.00 price objective on the stock. UBS Group lifted their target price on shares of Talen Energy from $242.00 to $269.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Daiwa Capital Markets set a $200.00 target price on shares of Talen Energy in a research report on Wednesday, March 5th. Finally, Bank of America began coverage on shares of Talen Energy in a report on Monday, February 3rd. They set a "buy" rating and a $253.00 price target on the stock. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $241.36.

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.