Talen Energy Corporation (NASDAQ:TLN) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 30.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,355 shares of the utilities provider’s stock after selling 15,893 shares during the quarter. Bank of America Corp DE owned approximately 0.07% of Talen Energy worth $7,324,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Ameriprise Financial Inc. raised its holdings in Talen Energy by 6.1% in the fourth quarter. Ameriprise Financial Inc. now owns 4,518 shares of the utilities provider’s stock valued at $910,000 after buying an additional 261 shares during the period. Aristeia Capital L.L.C. bought a new position in Talen Energy during the fourth quarter worth $228,000. 4D Advisors LLC bought a new position in Talen Energy in the fourth quarter worth about $4,533,000. Itau Unibanco Holding S.A. bought a new position in Talen Energy during the 4th quarter worth $423,000. Finally, Castalian Partners LLC acquired a new position in Talen Energy during the 4th quarter valued at about $8,361,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Analysts Set New Price Targets

TLN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Talen Energy from $295.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Barclays reduced their target price on Talen Energy from $293.00 to $282.00 and set an “overweight” rating for the company in a report on Tuesday, March 4th. UBS Group lowered their price target on shares of Talen Energy from $275.00 to $259.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Daiwa Capital Markets set a $200.00 target price on shares of Talen Energy in a research report on Wednesday, March 5th. Finally, Morgan Stanley initiated coverage on Talen Energy in a research report on Wednesday, March 12th. They set an “overweight” rating and a $243.00 target price for the company. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Talen Energy currently has a consensus rating of “Moderate Buy” and an average price target of $240.18.

Talen Energy Stock Up 1.9%

Shares of TLN stock opened at $243.08 on Monday. The stock has a market cap of $11.06 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 2.70 and a beta of 1.90. The stock has a fifty day moving average price of $213.66 and a 200 day moving average price of $214.21. Talen Energy Corporation has a one year low of $98.50 and a one year high of $258.03. 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 (NASDAQ:TLN) last announced its earnings results on Thursday, May 8th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.35). The firm had revenue of $390.00 million for the quarter, compared to analyst estimates of $556.93 million. Talen Energy had a return on equity of 8.59% and a net margin of 50.48%. Analysts predict that Talen Energy Corporation will post 15.94 earnings per share for the current year.

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.