Everence Capital Management Inc. Acquires Shares of 1,370 Talen Energy Corporation (NASDAQ:TLN)

Everence Capital Management Inc. bought a new position in Talen Energy Corporation (NASDAQ:TLN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,370 shares of the utilities provider’s stock, valued at approximately $276,000.

Other institutional investors have also recently made changes to their positions in the company. XTX Topco Ltd purchased a new stake in Talen Energy in the 3rd quarter worth about $520,000. Roubaix Capital LLC bought a new position in shares of Talen Energy during the third quarter valued at approximately $11,234,000. Monarch Alternative Capital LP purchased a new stake in shares of Talen Energy in the third quarter worth approximately $258,448,000. First Sabrepoint Capital Management LP bought a new stake in shares of Talen Energy during the 3rd quarter worth approximately $6,238,000. Finally, M&G PLC purchased a new position in Talen Energy during the 3rd quarter valued at $14,797,000. Institutional investors own 0.38% of the company’s stock.

Insider Buying and Selling at Talen Energy

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $204.35, for a total transaction of $999,988,155.45. Following the completion of the sale, the insider now directly owns 6,475,107 shares of the company’s stock, valued at approximately $1,323,188,115.45. This represents a 43.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Talen Energy Stock Performance

Shares of TLN stock opened at $212.71 on Wednesday. The firm has a market cap of $10.82 billion and a price-to-earnings ratio of 11.39. Talen Energy Corporation has a 52-week low of $62.86 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. The company’s 50 day moving average is $205.34 and its 200 day moving average is $146.76.

Wall Street Analyst Weigh In

TLN has been the topic of a number of recent analyst reports. Oppenheimer increased their target price on Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Daiwa Capital Markets started coverage on shares of Talen Energy in a report on Wednesday, December 4th. They set a “buy” rating and a $248.00 price objective for the company. JPMorgan Chase & Co. began coverage on shares of Talen Energy in a research report on Thursday, October 17th. They issued 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 research report on Friday, December 13th. Finally, Guggenheim boosted their price target on Talen Energy from $219.00 to $246.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Talen Energy currently has a consensus rating of “Buy” and a consensus target price of $225.10.

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.