Talen Energy Corporation $TLN Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in Talen Energy Corporation (NASDAQ:TLN) by 79.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 239,380 shares of the utilities provider’s stock after purchasing an additional 105,847 shares during the quarter. Bank of New York Mellon Corp owned about 0.53% of Talen Energy worth $69,604,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas raised its stake in Talen Energy by 176.2% during the 1st quarter. Teacher Retirement System of Texas now owns 5,606 shares of the utilities provider’s stock valued at $1,119,000 after acquiring an additional 3,576 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Talen Energy by 114.9% during the 1st quarter. Principal Financial Group Inc. now owns 3,591 shares of the utilities provider’s stock valued at $717,000 after acquiring an additional 1,920 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Talen Energy by 44.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 28,620 shares of the utilities provider’s stock worth $5,715,000 after acquiring an additional 8,814 shares in the last quarter. Alps Advisors Inc. acquired a new position in shares of Talen Energy in the 1st quarter worth $347,000. Finally, Arizona State Retirement System raised its position in shares of Talen Energy by 1.7% during the first quarter. Arizona State Retirement System now owns 10,522 shares of the utilities provider’s stock worth $2,101,000 after purchasing an additional 173 shares during the period. Institutional investors own 0.38% of the company’s stock.

Analyst Ratings Changes

TLN has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Talen Energy from a “sell” rating to a “hold” rating in a research report on Monday, August 11th. Scotiabank started coverage on shares of Talen Energy in a research report on Monday, September 22nd. They issued a “sector perform” rating and a $418.00 target price on the stock. Barclays cut their price target on shares of Talen Energy from $440.00 to $439.00 and set an “overweight” rating on the stock in a report on Tuesday, October 21st. Evercore ISI upped their price target on shares of Talen Energy from $410.00 to $450.00 and gave the company an “outperform” rating in a research report on Tuesday, September 9th. Finally, UBS Group set a $431.00 price objective on shares of Talen Energy and gave the stock a “buy” rating in a research note on Friday, July 25th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $395.07.

Talen Energy Stock Performance

TLN opened at $386.57 on Monday. Talen Energy Corporation has a 12-month low of $158.08 and a 12-month high of $451.28. The firm has a market capitalization of $17.66 billion, a P/E ratio of 83.67, a price-to-earnings-growth ratio of 2.37 and a beta of 1.83. The stock’s 50 day moving average price is $407.51 and its two-hundred day moving average price is $333.75. The company has a quick ratio of 1.72, a current ratio of 2.29 and a debt-to-equity ratio of 2.02.

Talen Energy (NASDAQ:TLN) last announced its earnings results on Wednesday, November 5th. The utilities provider reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. Talen Energy had a net margin of 9.83% and a return on equity of 13.52%. The business had revenue of $812.00 million for the quarter, compared to analyst estimates of $707.90 million. During the same quarter in the previous year, the firm posted $3.16 earnings per share. Talen Energy’s revenue was up 24.9% compared to the same quarter last year. On average, equities analysts forecast 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.