Magnetar Financial LLC Takes Position in Talen Energy Corporation (NASDAQ:TLN)

Magnetar Financial LLC bought a new stake in shares of Talen Energy Corporation (NASDAQ:TLN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,088 shares of the utilities provider’s stock, valued at approximately $824,000.

A number of other large investors have also recently made changes to their positions in the stock. Allworth Financial LP boosted its stake in shares of Talen Energy by 170.6% during the fourth quarter. Allworth Financial LP now owns 184 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 116 shares during the period. Jones Financial Companies Lllp purchased a new stake in Talen Energy in the fourth quarter worth about $37,000. Geneos Wealth Management Inc. purchased a new stake in Talen Energy in the fourth quarter worth about $39,000. BNP Paribas Financial Markets purchased a new stake in Talen Energy in the third quarter worth about $36,000. Finally, Empowered Funds LLC purchased a new stake in Talen Energy in the fourth quarter worth about $42,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Stock Performance

TLN opened at $214.81 on Friday. Talen Energy Corporation has a 52-week low of $98.50 and a 52-week high of $258.03. 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 company has a market cap of $9.87 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 2.70 and a beta of 2.00. The firm’s 50-day moving average price is $219.07 and its 200-day moving average price is $187.70.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TLN shares. Morgan Stanley started coverage on shares of Talen Energy in a research note on Wednesday, March 12th. They issued an “overweight” rating and a $243.00 price objective for the company. Barclays lowered their price objective on shares of Talen Energy from $293.00 to $282.00 and set an “overweight” rating for the company in a research note on Tuesday, March 4th. Bank of America started coverage on shares of Talen Energy in a research note on Monday, February 3rd. They issued a “buy” rating and a $253.00 price objective for the company. Oppenheimer boosted their target price on shares of Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Evercore ISI started coverage on shares of Talen Energy in a report on Friday, February 21st. They issued an “outperform” rating for the company. Twelve 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 target price of $241.36.

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.