CIBC Private Wealth Group LLC Purchases 11,595 Shares of Talen Energy Corporation (NASDAQ:TLN)

CIBC Private Wealth Group LLC raised its position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 24,156.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,643 shares of the utilities provider's stock after buying an additional 11,595 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Talen Energy were worth $2,510,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP raised its position in Talen Energy by 170.6% during the fourth quarter. Allworth Financial LP now owns 184 shares of the utilities provider's stock valued at $37,000 after buying an additional 116 shares during the period. Jones Financial Companies Lllp purchased a new position in Talen Energy during the 4th quarter valued at about $37,000. Geneos Wealth Management Inc. acquired a new position in shares of Talen Energy in the 4th quarter valued at about $39,000. BNP Paribas Financial Markets purchased a new stake in shares of Talen Energy in the third quarter worth approximately $36,000. Finally, Empowered Funds LLC acquired a new stake in shares of Talen Energy during the fourth quarter worth approximately $42,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Stock Performance

Shares of TLN stock traded down $10.01 during trading on Friday, reaching $174.40. The company had a trading volume of 2,379,726 shares, compared to its average volume of 1,129,594. The company has a market capitalization of $7.94 billion, a PE ratio of 9.34, a PEG ratio of 2.70 and a beta of 1.93. 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's 50 day simple moving average is $212.51 and its two-hundred day simple moving average is $193.44. Talen Energy Corporation has a one year low of $98.50 and a one year high of $258.03.

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Analysts Set New Price Targets

Several research firms have weighed in on TLN. Bank of America initiated coverage on shares of Talen Energy in a research note on Monday, February 3rd. They issued a "buy" rating and a $253.00 price objective on the stock. Daiwa Capital Markets set a $200.00 price target on shares of Talen Energy in a research note on Wednesday, March 5th. Oppenheimer lifted their price objective on Talen Energy from $225.00 to $250.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Morgan Stanley initiated coverage on Talen Energy in a research note on Wednesday, March 12th. They issued an "overweight" rating and a $243.00 target price on the stock. Finally, Evercore ISI began coverage on Talen Energy in a research note on Friday, February 21st. They set an "outperform" rating for the company. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price of $241.09.

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.