Clearline Capital LP Purchases New Holdings in Talen Energy Corporation (NASDAQ:TLN)

Clearline Capital LP acquired a new position in Talen Energy Corporation (NASDAQ:TLN) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 102,689 shares of the utilities provider’s stock, valued at approximately $18,303,000. Talen Energy comprises 0.8% of Clearline Capital LP’s holdings, making the stock its 20th largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in shares of Talen Energy in the 3rd quarter valued at approximately $36,000. Spirit of America Management Corp NY bought a new stake in Talen Energy in the third quarter valued at $214,000. World Equity Group Inc. acquired a new position in Talen Energy during the third quarter worth $237,000. Point72 Hong Kong Ltd bought a new position in shares of Talen Energy during the third quarter valued at $257,000. Finally, Guidance Capital Inc. acquired a new stake in shares of Talen Energy in the 3rd quarter valued at $348,000. 0.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TLN has been the subject of several analyst reports. Guggenheim lifted their price target on shares of Talen Energy from $219.00 to $246.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Jefferies Financial Group began coverage on Talen Energy in a report on Friday, September 13th. They issued a “buy” rating and a $226.00 target price on the stock. UBS Group raised their price target on Talen Energy from $197.00 to $242.00 and gave the company a “buy” rating in a report on Friday, November 15th. JPMorgan Chase & Co. initiated coverage on Talen Energy in a research note on Thursday, October 17th. They issued an “overweight” rating and a $268.00 price objective on the stock. Finally, Royal Bank of Canada assumed coverage on Talen Energy in a research note on Thursday, September 26th. They issued an “outperform” rating and a $233.00 target price for the company. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $210.33.

Talen Energy Trading Up 0.2 %

Shares of TLN opened at $214.41 on Monday. The stock’s fifty day simple moving average is $169.19 and its 200-day simple moving average is $123.76. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $10.90 billion and a PE ratio of 11.48. Talen Energy Corporation has a 12-month low of $55.82 and a 12-month high of $222.49.

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.