Monarch Alternative Capital LP Acquires Shares of 1,450,000 Talen Energy Corporation (NASDAQ:TLN)

Monarch Alternative Capital LP bought a new position in Talen Energy Corporation (NASDAQ:TLN) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 1,450,000 shares of the utilities provider’s stock, valued at approximately $258,448,000. Talen Energy accounts for approximately 39.5% of Monarch Alternative Capital LP’s investment portfolio, making the stock its largest holding. Monarch Alternative Capital LP owned 2.84% of Talen Energy as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Roubaix Capital LLC purchased a new stake in Talen Energy in the third quarter worth $11,234,000. M&G PLC bought a new stake in shares of Talen Energy during the 3rd quarter valued at $14,797,000. River Road Asset Management LLC purchased a new stake in shares of Talen Energy in the 3rd quarter worth about $277,653,000. Oppenheimer Asset Management Inc. bought a new position in shares of Talen Energy in the 3rd quarter worth about $1,411,000. Finally, Riggs Asset Managment Co. Inc. purchased a new position in Talen Energy during the 3rd quarter valued at about $1,001,000. Institutional investors own 0.38% of the company’s stock.

Talen Energy Trading Up 0.2 %

Shares of NASDAQ:TLN opened at $214.41 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37. Talen Energy Corporation has a 1 year low of $55.82 and a 1 year high of $222.49. The company has a market cap of $10.90 billion and a P/E ratio of 11.48. The stock’s fifty day moving average price is $169.19 and its 200-day moving average price is $123.01.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Talen Energy in a report on Friday, September 13th. They issued a “buy” rating and a $226.00 price objective on the stock. Royal Bank of Canada assumed coverage on Talen Energy in a research note on Thursday, September 26th. They issued an “outperform” rating and a $233.00 price target on the stock. Barclays lowered their price objective on Talen Energy from $207.00 to $202.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. JPMorgan Chase & Co. began coverage on Talen Energy in a research note on Thursday, October 17th. They issued an “overweight” rating and a $268.00 target price on the stock. Finally, UBS Group lifted their price target on Talen Energy from $197.00 to $242.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $210.33.

Talen Energy 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.