Sierra Summit Advisors LLC Purchases New Shares in Talen Energy Corporation (NASDAQ:TLN)

Sierra Summit Advisors LLC acquired a new stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,783 shares of the utilities provider's stock, valued at approximately $561,000.

Other large investors have also modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in Talen Energy during the third quarter worth $36,000. Allworth Financial LP increased its position in shares of 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 purchasing an additional 116 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Talen Energy during the 4th quarter valued at $37,000. Geneos Wealth Management Inc. acquired a new stake in shares of Talen Energy in the 4th quarter worth $39,000. Finally, Empowered Funds LLC purchased a new position in Talen Energy during the 4th quarter worth $42,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on TLN. UBS Group decreased their price target on Talen Energy from $275.00 to $259.00 and set a "buy" rating for the company in a research note on Friday. JPMorgan Chase & Co. lowered their target price on shares of Talen Energy from $295.00 to $265.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Evercore ISI began coverage on shares of Talen Energy in a research note on Friday, February 21st. They set an "outperform" rating on the stock. Bank of America started coverage on shares of Talen Energy in a research note on Monday, February 3rd. They set a "buy" rating and a $253.00 price objective for the company. Finally, Morgan Stanley initiated coverage on Talen Energy in a research report on Wednesday, March 12th. They issued an "overweight" rating and a $243.00 target price on the stock. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $240.18.

Talen Energy Stock Performance

Shares of NASDAQ TLN traded up $1.65 during trading on Friday, reaching $198.04. 960,209 shares of the company traded hands, compared to its average volume of 1,135,446. The stock has a market cap of $9.01 billion, a P/E ratio of 10.60, a PEG ratio of 2.70 and a beta of 1.93. The firm's fifty day simple moving average is $209.05 and its 200 day simple moving average is $197.10. 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.

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.