Monarch Alternative Capital LP Makes New $258.45 Million Investment in Talen Energy Corporation (NASDAQ:TLN)

Monarch Alternative Capital LP acquired a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,450,000 shares of the utilities provider's stock, valued at approximately $258,448,000. Talen Energy accounts for approximately 39.5% of Monarch Alternative Capital LP's investment portfolio, making the stock its largest position. Monarch Alternative Capital LP owned 2.84% of Talen Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. BNP Paribas Financial Markets bought a new position in Talen Energy during the third quarter worth about $36,000. Spirit of America Management Corp NY bought a new position in shares of Talen Energy during the 3rd quarter worth approximately $214,000. World Equity Group Inc. acquired a new stake in Talen Energy in the 3rd quarter valued at $237,000. Point72 Hong Kong Ltd acquired a new position in Talen Energy during the third quarter worth $257,000. Finally, Guidance Capital Inc. bought a new position in shares of Talen Energy during the third quarter valued at $348,000. Institutional investors and hedge funds own 0.38% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on TLN shares. JPMorgan Chase & Co. started coverage on Talen Energy in a report on Thursday, October 17th. They issued an "overweight" rating and a $268.00 target price on the stock. Jefferies Financial Group assumed coverage on Talen Energy in a research note on Friday, September 13th. They issued a "buy" rating and a $226.00 price objective on the stock. BWS Financial raised their target price on Talen Energy from $145.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, September 6th. Guggenheim upped their price target on shares of Talen Energy from $219.00 to $246.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada started coverage on shares of Talen Energy in a report on Thursday, September 26th. They set an "outperform" rating and a $233.00 price objective on the stock. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $210.33.

Talen Energy Stock Up 0.2 %

Shares of Talen Energy stock traded up $0.36 on Friday, hitting $214.41. The company had a trading volume of 215,543 shares, compared to its average volume of 1,235,398. Talen Energy Corporation has a twelve month low of $55.82 and a twelve month high of $222.49. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37. The stock has a 50-day moving average of $169.19 and a 200-day moving average of $123.38. The firm has a market capitalization of $10.90 billion and a P/E ratio of 11.48.

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.