Rubric Capital Management LP Makes New Investment in Talen Energy Corporation (NASDAQ:TLN)

Rubric Capital Management LP purchased a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,368,614 shares of the utilities provider’s stock, valued at approximately $2,026,342,000. Talen Energy comprises approximately 33.0% of Rubric Capital Management LP’s investment portfolio, making the stock its largest holding. Rubric Capital Management LP owned about 22.29% of Talen Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new position in Talen Energy in the third quarter valued at approximately $36,000. Spirit of America Management Corp NY acquired a new position in Talen Energy during the 3rd quarter worth $214,000. World Equity Group Inc. acquired a new position in shares of Talen Energy during the third quarter valued at $237,000. Shikiar Asset Management Inc. acquired a new stake in Talen Energy in the second quarter worth about $278,000. Finally, Guidance Capital Inc. acquired a new position in Talen Energy during the 3rd quarter valued at about $348,000. 0.38% of the stock is owned by institutional investors.

Talen Energy Price Performance

NASDAQ TLN opened at $216.39 on Wednesday. The stock’s 50-day moving average is $161.45 and its two-hundred day moving average is $119.75. Talen Energy Corporation has a fifty-two week low of $53.95 and a fifty-two week high of $222.49. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37. The firm has a market cap of $11.00 billion and a P/E ratio of 11.58.

Analyst Ratings Changes

TLN has been the topic of several recent analyst reports. Royal Bank of Canada started coverage on Talen Energy in a report on Thursday, September 26th. They set an “outperform” rating and a $233.00 target price on the stock. BWS Financial upped their price target on shares of Talen Energy from $145.00 to $185.00 and gave the company a “buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. started coverage on shares of Talen Energy in a report on Thursday, October 17th. They issued an “overweight” rating and a $268.00 target price on the stock. Guggenheim raised their target price on shares of Talen Energy from $219.00 to $246.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, UBS Group upped their price target on Talen Energy from $197.00 to $242.00 and gave the company a “buy” rating in a report on Friday, November 15th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Talen Energy presently has a consensus rating of “Buy” and an average price target of $210.33.

About Talen Energy

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.