570,209 Shares in Talen Energy Corporation (NASDAQ:TLN) Purchased by Merewether Investment Management LP

Merewether Investment Management LP bought 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 disclosure with the Securities and Exchange Commission (SEC). The fund bought 570,209 shares of the utilities provider's stock, valued at approximately $101,634,000. Talen Energy accounts for approximately 4.7% of Merewether Investment Management LP's investment portfolio, making the stock its 7th biggest holding. Merewether Investment Management LP owned 1.12% of Talen Energy as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TLN. BNP Paribas Financial Markets acquired a new position in Talen Energy in the third quarter valued at approximately $36,000. Spirit of America Management Corp NY acquired a new position in Talen Energy in the third quarter valued at approximately $214,000. World Equity Group Inc. acquired a new position in Talen Energy in the third quarter valued at approximately $237,000. Point72 Hong Kong Ltd acquired a new position in Talen Energy in the third quarter valued at approximately $257,000. Finally, Guidance Capital Inc. acquired a new position in Talen Energy in the third quarter valued at approximately $348,000. Institutional investors and hedge funds own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. JPMorgan Chase & Co. assumed coverage on Talen Energy in a research report on Thursday, October 17th. They issued an "overweight" rating and a $268.00 price objective for the company. Oppenheimer boosted their price objective on Talen Energy from $165.00 to $210.00 and gave the company an "outperform" rating in a research report on Tuesday, September 24th. UBS Group boosted their price target on Talen Energy from $197.00 to $242.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Barclays dropped their price target on Talen Energy from $207.00 to $202.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. Finally, Daiwa Capital Markets assumed coverage on Talen Energy in a research report on Wednesday. They set a "buy" rating and a $248.00 price target for the company. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Talen Energy has a consensus rating of "Buy" and an average target price of $214.10.

Talen Energy Trading Up 4.3 %

NASDAQ TLN traded up $9.08 on Wednesday, reaching $221.71. 694,825 shares of the company were exchanged, compared to its average volume of 667,777. The business's fifty day moving average price is $172.88 and its 200 day moving average price is $125.70. The stock has a market capitalization of $11.27 billion and a P/E ratio of 11.38. 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 fifty-two week low of $56.16 and a fifty-two week high of $224.78.

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.