Bank of New York Mellon Corp Boosts Stock Holdings in Talen Energy Corporation (NASDAQ:TLN)

Bank of New York Mellon Corp boosted its position in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 457.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,208 shares of the utilities provider's stock after buying an additional 79,783 shares during the quarter. Bank of New York Mellon Corp owned 0.19% of Talen Energy worth $19,584,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TLN. BNP Paribas Financial Markets bought a new stake in shares of Talen Energy in the 3rd quarter worth $36,000. Allworth Financial LP increased its holdings in shares of Talen Energy by 170.6% in the 4th quarter. Allworth Financial LP now owns 184 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 116 shares during the period. Geneos Wealth Management Inc. acquired a new position in shares of Talen Energy in the fourth quarter worth $39,000. Empowered Funds LLC acquired a new stake in shares of Talen Energy during the 4th quarter valued at about $42,000. Finally, First Horizon Advisors Inc. grew its position in Talen Energy by 458.0% in the fourth quarter. First Horizon Advisors Inc. now owns 452 shares of the utilities provider's stock worth $91,000 after acquiring an additional 371 shares in the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TLN shares. Bank of America started coverage on Talen Energy in a research note on Monday, February 3rd. They set a "buy" rating and a $253.00 target price for the company. Barclays dropped their target price on shares of Talen Energy from $293.00 to $282.00 and set an "overweight" rating for the company in a research report on Tuesday, March 4th. Evercore ISI began coverage on shares of Talen Energy in a research report on Friday, February 21st. They set an "outperform" rating on the stock. Oppenheimer lifted their price objective on Talen Energy from $225.00 to $250.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. Finally, Daiwa Capital Markets set a $200.00 price target on Talen Energy in a research note on Wednesday, March 5th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Talen Energy currently has an average rating of "Buy" and an average price target of $241.20.

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Talen Energy Stock Performance

Shares of Talen Energy stock traded up $10.81 during trading hours on Tuesday, reaching $176.56. 1,964,621 shares of the stock traded hands, compared to its average volume of 1,102,985. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 2.70 and a beta of 2.00. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07. The company has a 50 day moving average price of $220.90 and a 200 day moving average price of $183.17. Talen Energy Corporation has a one year low of $98.50 and a one year high of $258.03.

Insider Buying and Selling at Talen Energy

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the business's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $204.35, for a total value of $999,988,155.45. Following the completion of the transaction, the insider now owns 6,475,107 shares of the company's stock, valued at $1,323,188,115.45. The trade was a 43.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.18% of the company's stock.

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.