Zweig DiMenna Associates LLC Makes New $4.54 Million Investment in Talen Energy Corporation $TLN

Zweig DiMenna Associates LLC acquired a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 12,100 shares of the utilities provider’s stock, valued at approximately $4,536,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new position in Talen Energy during the 4th quarter worth approximately $27,000. Assetmark Inc. grew its position in Talen Energy by 581.8% during the 3rd quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Talen Energy during the 3rd quarter worth approximately $34,000. Advisory Services Network LLC purchased a new position in Talen Energy during the 3rd quarter worth approximately $35,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Talen Energy by 1,500.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 90 shares in the last quarter. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TLN has been the topic of several research analyst reports. BNP Paribas Exane began coverage on shares of Talen Energy in a research report on Wednesday, March 18th. They set an “outperform” rating and a $548.00 price objective on the stock. Barclays boosted their price target on shares of Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Wells Fargo & Company boosted their price target on shares of Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Raymond James Financial restated an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a report on Thursday, March 19th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $448.58.

Talen Energy Trading Up 1.4%

Talen Energy stock opened at $386.80 on Friday. The company’s fifty day simple moving average is $348.10 and its 200-day simple moving average is $358.82. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32. Talen Energy Corporation has a 12 month low of $239.20 and a 12 month high of $451.28. The stock has a market cap of $17.56 billion, a P/E ratio of -577.30 and a beta of 1.90.

About Talen Energy

Talen Energy Inc is an independent power producer that develops and operates a diversified portfolio of thermal and renewable generation facilities across the United States. The company supplies wholesale electricity and related services to utilities, large industrial customers, and power marketers, participating actively in regional markets such as PJM Interconnection and the Electric Reliability Council of Texas (ERCOT). Talen’s asset base comprises a mix of natural gas-fired, coal-fired and nuclear generation, supplemented by battery storage and other flexible resources designed to support the evolving needs of the grid.

Established in December 2015 through the combination of the competitive generation businesses previously held by two major utility groups, Talen Energy was structured as a standalone, publicly traded entity on the NASDAQ stock exchange (TLN).