BNP Paribas Financial Markets Takes Position in Talen Energy Corporation (NASDAQ:TLN)

BNP Paribas Financial Markets acquired a new stake in shares of Talen Energy Corporation (NASDAQ:TLN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 200 shares of the utilities provider’s stock, valued at approximately $36,000.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Talen Energy during the third quarter worth approximately $29,464,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in shares of Talen Energy during the 3rd quarter valued at $7,967,000. Guidance Capital Inc. purchased a new position in Talen Energy in the 3rd quarter worth $348,000. Mcdaniel Terry & Co. bought a new stake in Talen Energy in the third quarter worth $371,000. Finally, Spirit of America Management Corp NY purchased a new stake in Talen Energy during the third quarter valued at about $214,000. Institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Performance

Shares of TLN stock opened at $195.90 on Friday. The firm has a market capitalization of $9.96 billion and a price-to-earnings ratio of 10.49. The stock has a fifty day moving average of $191.72 and a 200 day moving average of $135.18. Talen Energy Corporation has a 52 week low of $60.00 and a 52 week high of $230.89. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07.

Wall Street Analysts Forecast Growth

TLN has been the topic of several analyst reports. Jefferies Financial Group started coverage on Talen Energy in a report on Friday, September 13th. They issued a “buy” rating and a $226.00 price objective on the stock. UBS Group lifted their price target on Talen Energy from $197.00 to $242.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. initiated coverage on Talen Energy in a research note on Thursday, October 17th. They set an “overweight” rating and a $268.00 price objective for the company. Barclays raised their target price on shares of Talen Energy from $202.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Oppenheimer upped their price target on shares of Talen Energy from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Talen Energy presently has a consensus rating of “Buy” and a consensus price target of $222.40.

Insiders Place Their Bets

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $204.35, for a total value of $999,988,155.45. Following the completion of the transaction, the insider now owns 6,475,107 shares in the company, valued at $1,323,188,115.45. This trade represents a 43.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

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.