M&G Plc Makes New $14.80 Million Investment in Talen Energy Corporation (NASDAQ:TLN)

M&G Plc bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 83,127 shares of the utilities provider’s stock, valued at approximately $14,797,000. M&G Plc owned about 0.16% of Talen Energy as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Roubaix Capital LLC acquired a new position in Talen Energy during the 3rd quarter worth $11,234,000. River Road Asset Management LLC bought a new stake in shares of Talen Energy during the third quarter worth $277,653,000. Riggs Asset Managment Co. Inc. acquired a new position in shares of Talen Energy during the third quarter valued at $1,001,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Talen Energy in the third quarter valued at about $7,967,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Talen Energy in the third quarter worth about $29,464,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Stock Up 7.0 %

NASDAQ:TLN opened at $205.58 on Friday. Talen Energy Corporation has a 1 year low of $52.01 and a 1 year high of $208.09. The stock has a 50-day moving average price of $139.21 and a two-hundred day moving average price of $107.54. The company has a debt-to-equity ratio of 1.02, a current ratio of 4.51 and a quick ratio of 3.86.

Talen Energy (NASDAQ:TLN) last issued its quarterly earnings data on Tuesday, August 13th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $1.33. The business had revenue of $489.00 million during the quarter, compared to analyst estimates of $437.50 million. Talen Energy had a return on equity of 2.27% and a net margin of 41.79%. As a group, sell-side analysts expect that Talen Energy Corporation will post 14.65 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TLN. Jefferies Financial Group started coverage on shares of Talen Energy in a research note on Friday, September 13th. They issued a “buy” rating and a $226.00 target price on the stock. Oppenheimer raised their price objective on shares of Talen Energy from $165.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Barclays dropped their target price on shares of Talen Energy from $207.00 to $202.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Guggenheim raised their price target on Talen Energy from $219.00 to $246.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada assumed coverage on Talen Energy in a report on Thursday, September 26th. They issued an “outperform” rating and a $233.00 price objective for the company. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $205.33.

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.