Mariner Investment Group LLC Purchases New Shares in Talen Energy Corporation $TLN

Mariner Investment Group LLC purchased a new position in Talen Energy Corporation (NASDAQ:TLN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,000 shares of the utilities provider’s stock, valued at approximately $1,874,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TLN. Flagship Harbor Advisors LLC purchased a new stake in shares of Talen Energy during the fourth quarter worth about $27,000. Assetmark Inc. lifted its stake in Talen Energy by 581.8% in the 3rd quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock valued at $32,000 after buying an additional 64 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Talen Energy in the 3rd quarter worth about $34,000. Advisory Services Network LLC acquired a new stake in Talen Energy in the 3rd quarter worth about $35,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake 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 buying an additional 90 shares in the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Price Performance

Shares of TLN stock opened at $436.29 on Friday. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05. The firm’s 50-day moving average is $363.58 and its two-hundred day moving average is $358.75. Talen Energy Corporation has a 12 month low of $255.50 and a 12 month high of $451.28. The company has a market capitalization of $19.81 billion, a PE ratio of -651.17 and a beta of 1.80.

Wall Street Analyst Weigh In

TLN has been the subject of a number of research analyst reports. The Goldman Sachs Group began coverage on Talen Energy in a report on Thursday. They set a “buy” rating and a $499.00 target price for the company. BNP Paribas Exane initiated coverage on Talen Energy in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price target on the stock. Raymond James Financial reiterated an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a research report on Monday, April 27th. Barclays increased their price objective on Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Finally, Morgan Stanley restated an “overweight” rating and issued a $499.00 price objective on shares of Talen Energy in a report on Thursday, May 21st. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $452.46.

Insider Activity

In other news, Director Gizman I. Abbas sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the sale, the director owned 2,606 shares in the company, valued at $990,280. This trade represents a 49.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.78% of the stock is owned by corporate insiders.

Talen Energy Profile

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).