Ninepoint Partners LP Invests $1.35 Million in Talen Energy Corporation (NASDAQ:TLN)

Ninepoint Partners LP bought a new position in Talen Energy Corporation (NASDAQ:TLN) in the fourth quarter, HoldingsChannel.com reports. The fund bought 6,699 shares of the utilities provider’s stock, valued at approximately $1,350,000.

Other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in shares of Talen Energy in the 3rd quarter worth approximately $36,000. Allworth Financial LP raised its holdings in shares of Talen Energy by 170.6% in the 4th quarter. Allworth Financial LP now owns 184 shares of the utilities provider’s stock worth $37,000 after buying an additional 116 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Talen Energy in the 4th quarter worth approximately $37,000. Geneos Wealth Management Inc. acquired a new position in shares of Talen Energy in the 4th quarter worth approximately $39,000. Finally, Empowered Funds LLC acquired a new position in shares of Talen Energy in the 4th quarter worth approximately $42,000. 0.38% of the stock is owned by institutional investors and hedge funds.

Talen Energy Stock Up 5.0 %

Shares of TLN opened at $204.93 on Friday. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 2.70 and a beta of 2.00. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10. The business’s fifty day moving average price is $219.80 and its two-hundred day moving average price is $184.90. Talen Energy Corporation has a 52 week low of $98.50 and a 52 week high of $258.03.

Analysts Set New Price Targets

A number of research firms recently commented on TLN. UBS Group increased their price target on Talen Energy from $242.00 to $269.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Daiwa Capital Markets set a $200.00 price target on Talen Energy in a research report on Wednesday, March 5th. Bank of America began coverage on Talen Energy in a research report on Monday, February 3rd. They set a “buy” rating and a $253.00 price target on the stock. Morgan Stanley began coverage on Talen Energy in a research report on Wednesday. They set an “overweight” rating and a $243.00 price target on the stock. Finally, Evercore ISI began coverage on Talen Energy in a research report on Friday, February 21st. They set an “outperform” rating on the stock. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $241.36.

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.