Mirae Asset Global Investments Co. Ltd. Invests $940,000 in Talen Energy Corporation (NASDAQ:TLN)

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Talen Energy Corporation (NASDAQ:TLN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,695 shares of the utilities provider’s stock, valued at approximately $940,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rubric Capital Management LP purchased a new stake in shares of Talen Energy during the 3rd quarter valued at $2,026,342,000. River Road Asset Management LLC purchased a new stake in Talen Energy in the third quarter valued at about $277,653,000. Monarch Alternative Capital LP acquired a new stake in Talen Energy in the third quarter worth about $258,448,000. Mirabella Financial Services LLP purchased a new stake in shares of Talen Energy during the third quarter worth about $168,108,000. Finally, Sachem Head Capital Management LP acquired a new position in shares of Talen Energy during the third quarter valued at about $167,724,000. 0.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Oppenheimer lifted their target price on shares of Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. UBS Group upped their target price on Talen Energy from $242.00 to $269.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Barclays lifted their price target on Talen Energy from $245.00 to $293.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. assumed coverage on Talen Energy in a report on Thursday, October 17th. They issued an “overweight” rating and a $268.00 price objective on the stock. Finally, Bank of America started coverage on Talen Energy in a report on Monday, February 3rd. They set a “buy” rating and a $253.00 target price for the company. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Talen Energy presently has an average rating of “Buy” and an average price target of $232.00.

Talen Energy Trading Down 1.8 %

Shares of NASDAQ:TLN opened at $233.95 on Wednesday. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07. Talen Energy Corporation has a 12-month low of $66.40 and a 12-month high of $258.03. The business has a 50 day moving average of $218.05 and a two-hundred day moving average of $169.47. The company has a market capitalization of $11.90 billion, a PE ratio of 12.52, a PEG ratio of 2.92 and a beta of 1.70.

Insider Activity

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $204.35, for a total transaction of $999,988,155.45. Following the sale, the insider now directly owns 6,475,107 shares in the company, valued at $1,323,188,115.45. This trade represents a 43.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

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.