Sachem Head Capital Management LP Invests $167.72 Million in Talen Energy Corporation (NASDAQ:TLN)

Sachem Head Capital Management LP bought a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 941,000 shares of the utilities provider's stock, valued at approximately $167,724,000. Talen Energy comprises 8.8% of Sachem Head Capital Management LP's portfolio, making the stock its 4th largest position. Sachem Head Capital Management LP owned about 1.85% of Talen Energy at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TLN. Roubaix Capital LLC acquired a new stake in Talen Energy in the third quarter valued at $11,234,000. M&G PLC acquired a new stake in Talen Energy during the 3rd quarter valued at approximately $14,797,000. River Road Asset Management LLC bought a new position in Talen Energy during the 3rd quarter worth approximately $277,653,000. Monarch Alternative Capital LP acquired a new position in Talen Energy in the third quarter valued at $258,448,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Talen Energy in the 3rd quarter valued at $1,411,000. Institutional investors and hedge funds own 0.38% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TLN. Daiwa Capital Markets started coverage on shares of Talen Energy in a report on Wednesday. They set a "buy" rating and a $248.00 price objective on the stock. Royal Bank of Canada started coverage on Talen Energy in a research note on Thursday, September 26th. They issued an "outperform" rating and a $233.00 price objective for the company. Oppenheimer upped their target price on Talen Energy from $165.00 to $210.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. began coverage on shares of Talen Energy in a research report on Thursday, October 17th. They issued an "overweight" rating and a $268.00 price target for the company. Finally, BWS Financial upped their price objective on shares of Talen Energy from $145.00 to $185.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $214.10.

Talen Energy Price Performance

NASDAQ:TLN traded up $1.83 during trading hours on Thursday, hitting $223.54. The stock had a trading volume of 614,190 shares, compared to its average volume of 668,475. The company has a 50 day simple moving average of $174.81 and a two-hundred day simple moving average of $126.36. 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 firm has a market capitalization of $11.37 billion and a price-to-earnings ratio of 11.87. Talen Energy Corporation has a one year low of $57.01 and a one year high of $228.99.

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.