Fred Alger Management LLC Invests $67.28 Million in Talen Energy Corporation (NASDAQ:TLN)

Fred Alger Management LLC bought a new stake in shares of Talen Energy Corporation (NASDAQ:TLN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 377,490 shares of the utilities provider’s stock, valued at approximately $67,284,000. Fred Alger Management LLC owned approximately 0.74% of Talen Energy at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in shares of Talen Energy during the third quarter worth $36,000. Spirit of America Management Corp NY purchased a new position in Talen Energy in the 3rd quarter worth $214,000. World Equity Group Inc. acquired a new stake in Talen Energy during the 3rd quarter worth about $237,000. Shikiar Asset Management Inc. purchased a new stake in Talen Energy during the 2nd quarter valued at about $278,000. Finally, Guidance Capital Inc. purchased a new stake in Talen Energy during the 3rd quarter valued at about $348,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Talen Energy Stock Down 1.1 %

TLN stock opened at $214.05 on Friday. Talen Energy Corporation has a one year low of $53.95 and a one year high of $222.49. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10. The firm’s fifty day moving average is $167.28 and its 200 day moving average is $122.03. The firm has a market cap of $10.88 billion and a PE ratio of 11.46.

Analyst Ratings Changes

A number of research firms recently commented on TLN. JPMorgan Chase & Co. assumed coverage on Talen Energy in a report on Thursday, October 17th. They set an “overweight” rating and a $268.00 target price for the company. Jefferies Financial Group initiated coverage on shares of Talen Energy in a research note on Friday, September 13th. They set a “buy” rating and a $226.00 price objective for the company. Oppenheimer increased their price objective on shares of Talen Energy from $165.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Guggenheim boosted their target price on shares of Talen Energy from $219.00 to $246.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, 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. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price 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.