Bank of New York Mellon Corp Sells 77,627 Shares of Talen Energy Corporation $TLN

Bank of New York Mellon Corp cut its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 20.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 298,935 shares of the utilities provider’s stock after selling 77,627 shares during the quarter. Bank of New York Mellon Corp’s holdings in Talen Energy were worth $112,053,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Amundi purchased a new stake in shares of Talen Energy during the first quarter valued at $299,000. AQR Capital Management LLC purchased a new position in Talen Energy in the first quarter valued at $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Talen Energy by 11.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock valued at $1,454,000 after acquiring an additional 761 shares during the period. NewEdge Advisors LLC increased its stake in shares of Talen Energy by 17,400.0% in the 1st quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock valued at $175,000 after purchasing an additional 870 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Talen Energy by 15.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock valued at $9,794,000 after purchasing an additional 6,498 shares in the last quarter. Institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Performance

Shares of TLN opened at $364.74 on Monday. Talen Energy Corporation has a 52-week low of $246.95 and a 52-week high of $451.28. The stock has a market cap of $16.56 billion, a PE ratio of -544.38 and a beta of 1.81. The firm’s fifty day moving average is $353.84 and its two-hundred day moving average is $358.99. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. BNP Paribas Exane initiated coverage on Talen Energy in a research note on Wednesday, March 18th. They set an “outperform” rating and a $548.00 target price for the company. Barclays boosted their price target on shares of Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. JPMorgan Chase & Co. reduced their price objective on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Raymond James Financial reiterated an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a research report on Monday, April 27th. Finally, Wells Fargo & Company boosted their target price on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Talen Energy currently has a consensus rating of “Moderate Buy” and an average price target of $448.58.

About Talen Energy

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).