Waratah Capital Advisors Ltd. Purchases Shares of 25,294 Talen Energy Corporation $TLN

Waratah Capital Advisors Ltd. acquired a new position in Talen Energy Corporation (NASDAQ:TLN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 25,294 shares of the utilities provider’s stock, valued at approximately $10,760,000. Waratah Capital Advisors Ltd. owned about 0.06% of Talen Energy at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TLN. Norges Bank purchased a new stake in Talen Energy during the second quarter valued at $168,188,000. State Street Corp lifted its holdings in shares of Talen Energy by 151.0% in the 2nd quarter. State Street Corp now owns 711,231 shares of the utilities provider’s stock valued at $206,805,000 after acquiring an additional 427,910 shares during the last quarter. Third Point LLC grew its position in Talen Energy by 34.2% in the second quarter. Third Point LLC now owns 785,000 shares of the utilities provider’s stock worth $228,254,000 after acquiring an additional 200,000 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Talen Energy by 179.9% during the second quarter. JPMorgan Chase & Co. now owns 264,091 shares of the utilities provider’s stock worth $76,790,000 after acquiring an additional 169,734 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Talen Energy by 26.1% during the second quarter. Geode Capital Management LLC now owns 794,754 shares of the utilities provider’s stock valued at $231,150,000 after purchasing an additional 164,734 shares during the period. 0.38% of the stock is currently owned by institutional investors.

Talen Energy Stock Up 2.0%

Shares of NASDAQ TLN opened at $375.24 on Wednesday. Talen Energy Corporation has a 52-week low of $158.08 and a 52-week high of $451.28. The firm has a market capitalization of $17.14 billion, a price-to-earnings ratio of 81.22, a PEG ratio of 0.56 and a beta of 1.99. The stock has a 50 day moving average price of $369.18 and a 200 day moving average price of $383.39. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.72 and a current ratio of 2.29.

Analyst Ratings Changes

Several research firms have recently weighed in on TLN. Barclays cut their target price on Talen Energy from $457.00 to $425.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 11th. Wells Fargo & Company lifted their price objective on shares of Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Talen Energy in a research report on Wednesday, January 21st. Finally, Morgan Stanley set a $474.00 target price on shares of Talen Energy in a report on Friday. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $410.92.

About Talen Energy

Talen Energy Inc is an independent power producer that develops and operates a diversified portfolio of thermal and renewable generation facilities across the United States. The company supplies wholesale electricity and related services to utilities, large industrial customers, and power marketers, participating actively in regional markets such as PJM Interconnection and the Electric Reliability Council of Texas (ERCOT). Talen’s asset base comprises a mix of natural gas-fired, coal-fired and nuclear generation, supplemented by battery storage and other flexible resources designed to support the evolving needs of the grid.

Established in December 2015 through the combination of the competitive generation businesses previously held by two major utility groups, Talen Energy was structured as a standalone, publicly traded entity on the NASDAQ stock exchange (TLN).