Fred Alger Management LLC Buys 577,257 Shares of Talen Energy Corporation (NASDAQ:TLN)

Fred Alger Management LLC boosted its stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 152.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 954,747 shares of the utilities provider's stock after purchasing an additional 577,257 shares during the period. Talen Energy makes up approximately 0.9% of Fred Alger Management LLC's holdings, making the stock its 18th largest position. Fred Alger Management LLC owned about 1.88% of Talen Energy worth $192,353,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wedbush Securities Inc. increased its holdings in Talen Energy by 5.1% during the fourth quarter. Wedbush Securities Inc. now owns 1,261 shares of the utilities provider's stock valued at $254,000 after buying an additional 61 shares during the last quarter. Allworth Financial LP increased its stake in shares of 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 purchasing an additional 116 shares in the last quarter. Jones Financial Companies Lllp bought a new position in Talen Energy in the 4th quarter worth $37,000. Geneos Wealth Management Inc. bought a new position in Talen Energy in the 4th quarter worth $39,000. Finally, Empowered Funds LLC purchased a new position in Talen Energy during the fourth quarter valued at $42,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Talen Energy Price Performance

Shares of NASDAQ:TLN traded down $3.35 during mid-day trading on Friday, reaching $225.26. The stock had a trading volume of 801,933 shares, compared to its average volume of 1,106,061. The business's 50 day moving average price is $203.56 and its 200 day moving average price is $210.19. Talen Energy Corporation has a 1 year low of $98.50 and a 1 year high of $258.03. The company has a market cap of $10.25 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 2.70 and a beta of 1.90. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07.

Analysts Set New Price Targets

Several research analysts have recently commented on TLN shares. Evercore ISI started coverage on Talen Energy in a research note on Friday, February 21st. They issued an "outperform" rating on the stock. Morgan Stanley began coverage on shares of Talen Energy in a research note on Wednesday, March 12th. They set an "overweight" rating and a $243.00 target price on the stock. Barclays dropped their price target 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. UBS Group decreased their price objective on shares of Talen Energy from $275.00 to $259.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Daiwa Capital Markets set a $200.00 target price on shares of Talen Energy in a report on Wednesday, March 5th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Talen Energy currently has a consensus rating of "Buy" and a consensus target price of $240.18.

Talen Energy Company 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.