Riggs Asset Managment Co. Inc. Has $1.84 Million Holdings in Talen Energy Corporation (NASDAQ:TLN)

Riggs Asset Managment Co. Inc. boosted its stake in Talen Energy Corporation (NASDAQ:TLN) by 62.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,111 shares of the utilities provider’s stock after purchasing an additional 3,493 shares during the period. Riggs Asset Managment Co. Inc.’s holdings in Talen Energy were worth $1,837,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in shares of Talen Energy in the 3rd quarter valued at about $36,000. Geneos Wealth Management Inc. acquired a new position in shares of Talen Energy in the fourth quarter worth approximately $39,000. SG Americas Securities LLC bought a new stake in Talen Energy in the fourth quarter valued at approximately $152,000. Spirit of America Management Corp NY acquired a new stake in Talen Energy during the 3rd quarter valued at approximately $214,000. Finally, World Equity Group Inc. acquired a new stake in Talen Energy during the 3rd quarter valued at approximately $237,000. 0.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TLN has been the topic of a number of analyst reports. Barclays upped their price objective on shares of Talen Energy from $245.00 to $293.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Guggenheim upped their price target on shares of Talen Energy from $219.00 to $246.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Oppenheimer increased their price target on Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. UBS Group boosted their price objective on Talen Energy from $242.00 to $269.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. started coverage on Talen Energy in a research note on Thursday, October 17th. They set an “overweight” rating and a $268.00 target price for the company. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $229.90.

Talen Energy Stock Down 1.4 %

TLN stock opened at $221.73 on Friday. The stock’s 50 day simple moving average is $214.85 and its 200 day simple moving average is $162.51. The company has a market cap of $11.27 billion and a P/E ratio of 11.87. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10. Talen Energy Corporation has a fifty-two week low of $64.51 and a fifty-two week high of $258.03.

Insider Activity

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were 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. The trade was a 43.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

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.