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

Sierra Summit Advisors LLC purchased a new stake in Talen Energy Corporation (NASDAQ:TLN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,783 shares of the utilities provider’s stock, valued at approximately $561,000.

A number of other institutional investors have also recently bought and sold shares of TLN. The Manufacturers Life Insurance Company purchased a new position in Talen Energy during the 3rd quarter worth approximately $2,624,000. BNP Paribas Financial Markets purchased a new position in shares of Talen Energy during the third quarter valued at $36,000. Stifel Financial Corp acquired a new position in Talen Energy during the third quarter valued at $3,846,000. State Street Corp purchased a new stake in Talen Energy in the 3rd quarter worth about $32,185,000. Finally, Zimmer Partners LP acquired a new stake in Talen Energy during the 3rd quarter worth about $2,169,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Price Performance

NASDAQ TLN opened at $174.40 on Monday. The firm has a market cap 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. The stock’s 50-day moving average is $212.51 and its two-hundred day moving average is $194.49. Talen Energy Corporation has a fifty-two week low of $98.50 and a fifty-two week 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TLN. Evercore ISI assumed coverage on Talen Energy in a report on Friday, February 21st. They issued an “outperform” rating on the stock. Oppenheimer increased their target price on shares of Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. dropped their price target on shares of Talen Energy from $295.00 to $265.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Morgan Stanley started coverage on Talen Energy in a report on Wednesday, March 12th. They set an “overweight” rating and a $243.00 price objective for the company. Finally, UBS Group boosted their target price on Talen Energy from $242.00 to $269.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $241.09.

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.