Sierra Summit Advisors LLC Takes $561,000 Position in Talen Energy Corporation (NASDAQ:TLN)

Sierra Summit Advisors LLC acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN) in the 4th quarter, Holdings Channel reports. The fund acquired 2,783 shares of the utilities provider’s stock, valued at approximately $561,000.

Several other hedge funds have also recently added to or reduced their stakes in TLN. XTX Topco Ltd bought a new position in shares of Talen Energy during the 3rd quarter worth about $520,000. JPMorgan Chase & Co. acquired a new stake in Talen Energy during the third quarter worth about $23,482,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Talen Energy during the fourth quarter valued at about $240,000. First Sabrepoint Capital Management LP acquired a new position in Talen Energy in the 3rd quarter valued at approximately $6,238,000. Finally, Rhumbline Advisers lifted its position in shares of Talen Energy by 37.3% in the 4th quarter. Rhumbline Advisers now owns 5,530 shares of the utilities provider’s stock worth $1,114,000 after acquiring an additional 1,503 shares during the period. Institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Performance

NASDAQ:TLN opened at $174.40 on Monday. The stock has a market capitalization of $7.94 billion, a P/E ratio of 9.34, a price-to-earnings-growth ratio of 2.70 and a beta of 1.93. Talen Energy Corporation has a 1 year low of $98.50 and a 1 year high of $258.03. The firm has a 50 day moving average of $212.51 and a 200-day moving average of $194.49. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Morgan Stanley assumed coverage on Talen Energy in a research report on Wednesday, March 12th. They set an “overweight” rating and a $243.00 price objective on the stock. Oppenheimer increased their price objective on shares of Talen Energy from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Daiwa Capital Markets set a $200.00 target price on shares of Talen Energy in a research report on Wednesday, March 5th. Barclays lowered their target price on shares of Talen Energy from $293.00 to $282.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of Talen Energy from $295.00 to $265.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Talen Energy has an average rating of “Buy” and an average price target of $241.09.

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.