131,743 Shares in Talen Energy Corporation (NASDAQ:TLN) Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. bought a new stake in Talen Energy Corporation (NASDAQ:TLN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 131,743 shares of the utilities provider’s stock, valued at approximately $23,482,000. JPMorgan Chase & Co. owned about 0.26% of Talen Energy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TLN. SPX Gestao de Recursos Ltda bought a new position in shares of Talen Energy during the 3rd quarter worth $9,235,000. Tidal Investments LLC purchased a new stake in Talen Energy during the third quarter valued at about $304,000. Virtu Financial LLC bought a new position in Talen Energy during the third quarter worth about $3,249,000. Geode Capital Management LLC purchased a new position in shares of Talen Energy in the third quarter worth about $100,317,000. Finally, First Sabrepoint Capital Management LP purchased a new position in shares of Talen Energy in the third quarter worth about $6,238,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Talen Energy

In related news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the stock in a transaction 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 transaction, the insider now owns 6,475,107 shares of the company’s stock, valued at $1,323,188,115.45. This represents a 43.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by company insiders.

Talen Energy Stock Performance

Shares of TLN opened at $215.59 on Thursday. Talen Energy Corporation has a 12-month low of $62.86 and a 12-month high of $230.89. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07. The company has a market cap of $10.96 billion and a PE ratio of 11.54. The stock has a 50-day moving average price of $206.17 and a 200-day moving average price of $147.23.

Wall Street Analyst Weigh In

Several research firms recently commented on TLN. Daiwa Capital Markets initiated coverage on shares of Talen Energy in a report on Wednesday, December 4th. They issued a “buy” rating and a $248.00 price objective for the company. Barclays raised their price target on Talen Energy from $202.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. JPMorgan Chase & Co. began coverage on Talen Energy in a research note on Thursday, October 17th. They set an “overweight” rating and a $268.00 price objective on the stock. Royal Bank of Canada began coverage on Talen Energy in a research note on Thursday, September 26th. They issued an “outperform” rating and a $233.00 target price for the company. Finally, UBS Group lifted their target price on Talen Energy from $242.00 to $269.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target 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.