Bank of New York Mellon Corp Boosts Stake in Talen Energy Corporation $TLN

Bank of New York Mellon Corp lifted its position in Talen Energy Corporation (NASDAQ:TLN) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 300,578 shares of the utilities provider’s stock after purchasing an additional 1,643 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.66% of Talen Energy worth $95,953,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Talen Energy by 88.2% in the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after buying an additional 627,467 shares during the last quarter. Norges Bank purchased a new position in shares of Talen Energy during the fourth quarter worth approximately $225,930,000. Invesco Ltd. grew its position in shares of Talen Energy by 77.5% during the third quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock worth $452,189,000 after acquiring an additional 464,014 shares during the last quarter. Sachem Head Capital Management LP increased its holdings in shares of Talen Energy by 72.4% in the 4th quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider’s stock valued at $374,840,000 after acquiring an additional 420,000 shares during the period. Finally, Deltroit Asset Management UK LLP purchased a new stake in Talen Energy in the 4th quarter valued at $103,081,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Insider Buying and Selling at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the sale, the director owned 2,606 shares of the company’s stock, valued at $990,280. The trade was a 49.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.78% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on TLN shares. Jefferies Financial Group decreased their price target on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a research note on Monday. Barclays lifted their price objective on shares of Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Morgan Stanley reiterated an “overweight” rating and set a $508.00 target price on shares of Talen Energy in a research note on Wednesday, June 24th. Raymond James Financial reissued an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a report on Monday, April 27th. Finally, Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $472.50.

Talen Energy Stock Performance

Shares of TLN opened at $360.32 on Tuesday. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. The stock has a market capitalization of $17.26 billion, a P/E ratio of -537.78 and a beta of 1.82. The company’s fifty day moving average is $377.83 and its two-hundred day moving average is $362.00. Talen Energy Corporation has a 1 year low of $300.00 and a 1 year high of $451.28.

Talen Energy Company 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).