Summit Financial LLC Invests $296,000 in Talen Energy Corporation (NASDAQ:TLN)

Summit Financial LLC acquired a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,470 shares of the utilities provider's stock, valued at approximately $296,000.

A number of other institutional investors have also added to or reduced their stakes in TLN. BNP Paribas Financial Markets purchased a new position in shares of Talen Energy in the third quarter worth about $36,000. Allworth Financial LP raised its position in Talen Energy by 170.6% in the fourth quarter. Allworth Financial LP now owns 184 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 116 shares during the period. Jones Financial Companies Lllp acquired a new position in Talen Energy during the fourth quarter worth $37,000. Geneos Wealth Management Inc. purchased a new stake in Talen Energy during the fourth quarter worth about $39,000. Finally, Empowered Funds LLC purchased a new position in Talen Energy in the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Talen Energy Trading Down 5.4 %

Shares of TLN traded down $10.01 during trading hours on Friday, hitting $174.40. 2,379,726 shares of the stock traded hands, compared to its average volume of 1,129,594. The business has a fifty day moving average of $212.51 and a 200-day moving average of $193.94. Talen Energy Corporation has a 1-year low of $98.50 and a 1-year high of $258.03. The firm has a market capitalization of $7.94 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 2.70 and a beta of 1.93. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07.

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Analyst Upgrades and Downgrades

A number of research firms recently commented on TLN. Evercore ISI assumed coverage on shares of Talen Energy in a research report on Friday, February 21st. They issued an "outperform" rating on the stock. UBS Group increased their price objective 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. Morgan Stanley began coverage on Talen Energy in a report on Wednesday, March 12th. They issued an "overweight" rating and a $243.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their price target on shares of Talen Energy from $295.00 to $265.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Talen Energy presently has an average rating of "Buy" and an average target price of $241.09.

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.