11,368,614 Shares in Talen Energy Corporation (NASDAQ:TLN) Bought by Rubric Capital Management LP

Rubric Capital Management LP bought a new position in Talen Energy Corporation (NASDAQ:TLN) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,368,614 shares of the utilities provider’s stock, valued at approximately $2,026,342,000. Talen Energy makes up about 33.0% of Rubric Capital Management LP’s holdings, making the stock its largest holding. Rubric Capital Management LP owned about 0.22% of Talen Energy at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of TLN. River Road Asset Management LLC acquired a new stake in shares of Talen Energy during the third quarter worth approximately $277,653,000. Mirabella Financial Services LLP bought a new position in Talen Energy in the 3rd quarter valued at $168,108,000. FMR LLC acquired a new position in Talen Energy in the third quarter worth $141,363,000. Jennison Associates LLC acquired a new stake in shares of Talen Energy in the third quarter valued at $102,840,000. Finally, Yacktman Asset Management LP acquired a new position in Talen Energy during the 3rd quarter worth about $79,299,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Stock Performance

Shares of TLN opened at $216.39 on Wednesday. The firm has a market cap of $11.00 billion and a P/E ratio of 11.58. Talen Energy Corporation has a twelve month low of $53.95 and a twelve month high of $222.49. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10. The firm’s 50 day moving average price is $161.45 and its two-hundred day moving average price is $119.75.

Analyst Ratings Changes

TLN has been the subject of a number of research reports. Oppenheimer raised their price target on shares of Talen Energy from $165.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. UBS Group upped their target price on shares of Talen Energy from $197.00 to $242.00 and gave the company a “buy” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. began coverage on shares of Talen Energy in a report on Thursday, October 17th. They issued an “overweight” rating and a $268.00 price objective on the stock. BWS Financial upped their target price on shares of Talen Energy from $145.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada started coverage on Talen Energy in a research report on Thursday, September 26th. They issued an “outperform” rating and a $233.00 price target on the stock. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target 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.