K2 Principal Fund L.P. Makes New Investment in Talen Energy Corporation (NASDAQ:TLN)

K2 Principal Fund L.P. bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 29,289 shares of the utilities provider’s stock, valued at approximately $5,220,000. K2 Principal Fund L.P. owned approximately 0.06% of Talen Energy at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Roubaix Capital LLC acquired a new position in Talen Energy during the third quarter worth about $11,234,000. Monarch Alternative Capital LP purchased a new stake in shares of Talen Energy during the 3rd quarter worth approximately $258,448,000. M&G PLC acquired a new stake in shares of Talen Energy in the 3rd quarter worth approximately $14,797,000. River Road Asset Management LLC acquired a new position in Talen Energy during the third quarter worth $277,653,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Talen Energy during the third quarter worth $1,411,000. 0.38% of the stock is owned by institutional investors and hedge funds.

Talen Energy Stock Down 1.0 %

Shares of NASDAQ:TLN opened at $221.41 on Friday. Talen Energy Corporation has a 1 year low of $57.01 and a 1 year high of $230.89. The stock has a market capitalization of $11.26 billion and a P/E ratio of 11.85. The stock has a 50-day simple moving average of $178.71 and a 200-day simple moving average of $128.41. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TLN shares. BWS Financial lifted their target price on shares of Talen Energy from $145.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada began coverage on Talen Energy in a research report on Thursday, September 26th. They set an “outperform” rating and a $233.00 price objective for the company. Daiwa Capital Markets initiated coverage on Talen Energy in a report on Wednesday. They set a “buy” rating and a $248.00 target price on the stock. UBS Group boosted their price target on Talen Energy from $197.00 to $242.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Barclays decreased their price objective on Talen Energy from $207.00 to $202.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $214.10.

Talen Energy Company 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.