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

Bank of New York Mellon Corp increased its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 0.5% during the first quarter, HoldingsChannel reports. The fund owned 300,578 shares of the utilities provider’s stock after buying an additional 1,643 shares during the period. Bank of New York Mellon Corp’s holdings in Talen Energy were worth $95,953,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in Talen Energy by 1,526.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,054 shares of the utilities provider’s stock worth $9,766,000 after acquiring an additional 24,452 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in Talen Energy by 11.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 45,250 shares of the utilities provider’s stock valued at $16,962,000 after acquiring an additional 4,770 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Talen Energy by 400.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 14,105 shares of the utilities provider’s stock worth $5,287,000 after purchasing an additional 11,287 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of Talen Energy by 116.8% during the 4th quarter. Sanctuary Advisors LLC now owns 6,454 shares of the utilities provider’s stock worth $2,419,000 after purchasing an additional 3,477 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Talen Energy by 16.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 35,254 shares of the utilities provider’s stock worth $13,215,000 after purchasing an additional 4,885 shares during the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

TLN has been the subject of a number of recent analyst reports. Scotiabank lifted their price objective on Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 15th. Wells Fargo & Company increased their target price on Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. The Goldman Sachs Group started coverage on Talen Energy in a research note on Thursday, June 18th. They issued a “buy” rating and a $499.00 price target on the stock. Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Finally, Jefferies Financial Group dropped their price objective 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. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $472.50.

Talen Energy Stock Down 3.2%

Shares of NASDAQ TLN opened at $360.32 on Tuesday. Talen Energy Corporation has a 52-week low of $300.00 and a 52-week high of $451.28. The firm has a fifty day moving average of $377.83 and a 200-day moving average of $362.00. The stock has a market capitalization of $17.26 billion, a PE ratio of -537.78 and a beta of 1.82. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32.

Insider Buying and Selling at Talen Energy

In related news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction on Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the transaction, the director owned 2,606 shares in the company, valued at approximately $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.78% of the company’s stock.

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).