Ninepoint Partners LP Takes Position in Talen Energy Corporation (NASDAQ:TLN)

Ninepoint Partners LP bought a new stake in Talen Energy Corporation (NASDAQ:TLN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,699 shares of the utilities provider’s stock, valued at approximately $1,350,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Rubric Capital Management LP purchased a new position in Talen Energy in the third quarter valued at about $2,026,342,000. Monarch Alternative Capital LP purchased a new position in Talen Energy in the third quarter valued at about $258,448,000. Mirabella Financial Services LLP purchased a new position in Talen Energy in the third quarter valued at about $168,108,000. Sachem Head Capital Management LP purchased a new position in Talen Energy in the third quarter valued at about $167,724,000. Finally, FMR LLC purchased a new position in Talen Energy in the third quarter valued at about $141,363,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Trading Up 5.0 %

Talen Energy stock opened at $204.93 on Friday. The business has a 50 day moving average price of $219.80 and a two-hundred day moving average price of $184.90. 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 stock has a market cap of $9.42 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 2.70 and a beta of 2.00. Talen Energy Corporation has a 12 month low of $98.50 and a 12 month high of $258.03.

Analysts Set New Price Targets

TLN has been the subject of several recent analyst reports. Oppenheimer upped their price target on Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Evercore ISI initiated coverage on Talen Energy in a research note on Friday, February 21st. They set an “outperform” rating for the company. Daiwa Capital Markets set a $200.00 price target on Talen Energy in a research note on Wednesday, March 5th. Bank of America initiated coverage on Talen Energy in a research note on Monday, February 3rd. They set a “buy” rating and a $253.00 price target for the company. Finally, Morgan Stanley initiated coverage on Talen Energy in a research note on Wednesday. They set an “overweight” rating and a $243.00 price target for the company. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $241.36.

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.