CIBC Asset Management Inc Makes New Investment in Talen Energy Corporation (NASDAQ:TLN)

CIBC Asset Management Inc bought a new stake in Talen Energy Corporation (NASDAQ:TLN) in the fourth quarter, HoldingsChannel.com reports. The fund bought 1,542 shares of the utilities provider’s stock, valued at approximately $311,000.

Other institutional investors also recently made changes to their positions in the company. Mount Yale Investment Advisors LLC acquired a new position in shares of Talen Energy during the third quarter valued at $361,000. Riggs Asset Managment Co. Inc. acquired a new position in Talen Energy during the 3rd quarter valued at about $1,001,000. Roubaix Capital LLC acquired a new position in Talen Energy during the 3rd quarter valued at about $11,234,000. World Equity Group Inc. bought a new position in Talen Energy in the 3rd quarter worth about $237,000. Finally, Yacktman Asset Management LP acquired a new stake in shares of Talen Energy in the third quarter valued at approximately $79,299,000. 0.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays boosted their price objective on Talen Energy from $245.00 to $293.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Daiwa Capital Markets started coverage on Talen Energy in a research report on Wednesday, December 4th. They set a “buy” rating and a $248.00 price target for the company. Bank of America began coverage on Talen Energy in a report on Monday, February 3rd. They set a “buy” rating and a $253.00 price target on the stock. Oppenheimer upped their price objective on shares of Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, UBS Group increased their target price on shares of Talen Energy from $242.00 to $269.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $247.10.

Insider Activity at Talen Energy

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $204.35, for a total transaction of $999,988,155.45. Following the completion of the sale, the insider now directly owns 6,475,107 shares of the company’s stock, valued at $1,323,188,115.45. This represents a 43.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Talen Energy Stock Performance

NASDAQ:TLN opened at $215.85 on Tuesday. The company has a 50-day moving average of $222.33 and a 200-day moving average of $177.52. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 2.70 and a beta of 1.70. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07. Talen Energy Corporation has a twelve month low of $69.06 and a twelve month high of $258.03.

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.