Cannon Global Investment Management LLC Makes New Investment in Talen Energy Corporation (NASDAQ:TLN)

Cannon Global Investment Management LLC bought a new stake in Talen Energy Corporation (NASDAQ:TLN) in the fourth quarter, Holdings Channel reports. The institutional investor bought 3,100 shares of the utilities provider’s stock, valued at approximately $625,000. Talen Energy accounts for approximately 1.4% of Cannon Global Investment Management LLC’s portfolio, making the stock its 24th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TLN. XTX Topco Ltd acquired a new stake in shares of Talen Energy in the third quarter valued at approximately $520,000. JPMorgan Chase & Co. bought a new position in Talen Energy in the third quarter valued at $23,482,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Talen Energy during the fourth quarter worth about $240,000. Monarch Alternative Capital LP bought a new position in shares of Talen Energy in the third quarter valued at $258,448,000. Finally, First Sabrepoint Capital Management LP acquired a new position in shares of Talen Energy during the 3rd quarter worth about $6,238,000. 0.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Bank of America started coverage on shares of Talen Energy in a report on Monday, February 3rd. They issued a “buy” rating and a $253.00 price target on the stock. UBS Group lifted their price objective on shares of Talen Energy from $242.00 to $269.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Daiwa Capital Markets set a $200.00 target price on shares of Talen Energy in a report on Wednesday, March 5th. Oppenheimer increased their target price on Talen Energy from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Evercore ISI began coverage on shares of Talen Energy in a report on Friday, February 21st. They set an “outperform” rating on the stock. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Talen Energy has a consensus rating of “Buy” and a consensus price target of $241.36.

Talen Energy Stock Up 0.9 %

Shares of NASDAQ:TLN opened at $214.81 on Monday. The company has a market cap of $9.87 billion, a PE ratio of 11.50, a P/E/G ratio of 2.70 and a beta of 2.00. The stock’s 50-day moving average is $219.07 and its 200 day moving average is $188.68. Talen Energy Corporation has a 1 year low of $98.50 and a 1 year high of $258.03. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37.

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.