AGF Management Ltd. Invests $9.15 Million in Talen Energy Corporation (NASDAQ:TLN)

AGF Management Ltd. bought a new stake in shares of Talen Energy Corporation (NASDAQ:TLN) during the 4th quarter, Holdings Channel reports. The firm bought 45,410 shares of the utilities provider’s stock, valued at approximately $9,149,000.

Several other hedge funds have also bought and sold shares of TLN. Allworth Financial LP boosted its holdings in Talen Energy by 170.6% in the 4th quarter. Allworth Financial LP now owns 184 shares of the utilities provider’s stock worth $37,000 after buying an additional 116 shares during the period. Jones Financial Companies Lllp purchased a new position in shares of Talen Energy in the fourth quarter valued at about $37,000. Geneos Wealth Management Inc. bought a new position in shares of Talen Energy in the fourth quarter worth about $39,000. BNP Paribas Financial Markets purchased a new stake in shares of Talen Energy during the third quarter worth about $36,000. Finally, Empowered Funds LLC bought a new stake in Talen Energy during the 4th quarter valued at approximately $42,000. Institutional investors own 0.38% of the company’s stock.

Talen Energy Trading Up 12.8 %

Shares of NASDAQ TLN opened at $199.09 on Thursday. The stock has a market capitalization of $9.15 billion, a P/E ratio of 10.66, a PEG ratio of 2.70 and a beta of 2.00. Talen Energy Corporation has a 1-year low of $98.50 and a 1-year high of $258.03. The business’s 50 day moving average is $220.40 and its two-hundred day moving average is $183.59. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37.

Analyst Upgrades and Downgrades

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. Barclays dropped their target price on shares of Talen Energy from $293.00 to $282.00 and set an “overweight” rating for the company in a research report on Tuesday, March 4th. Morgan Stanley assumed coverage on shares of Talen Energy in a report on Wednesday. They issued an “overweight” rating and a $243.00 price target on the stock. Daiwa Capital Markets set a $200.00 price objective on shares of Talen Energy in a report on Wednesday, March 5th. Finally, UBS Group lifted their target price on Talen Energy from $242.00 to $269.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $241.36.

Insider Activity

In related news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of Talen Energy stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $204.35, for a total transaction of $999,988,155.45. Following the completion of the transaction, the insider now directly owns 6,475,107 shares of the company’s stock, valued at approximately $1,323,188,115.45. The trade was a 43.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.