Bank of New York Mellon Corp Purchases 79,783 Shares of Talen Energy Corporation (NASDAQ:TLN)

Bank of New York Mellon Corp grew its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 457.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 97,208 shares of the utilities provider’s stock after buying an additional 79,783 shares during the period. Bank of New York Mellon Corp owned 0.19% of Talen Energy worth $19,584,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TLN. BNP Paribas Financial Markets bought a new position in Talen Energy in the 3rd quarter worth about $36,000. Allworth Financial LP lifted its stake in shares of Talen Energy by 170.6% in the fourth quarter. Allworth Financial LP now owns 184 shares of the utilities provider’s stock worth $37,000 after buying an additional 116 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Talen Energy during the fourth quarter valued at approximately $39,000. Empowered Funds LLC bought a new stake in shares of Talen Energy during the fourth quarter valued at approximately $42,000. Finally, First Horizon Advisors Inc. raised its holdings in Talen Energy by 458.0% in the 4th quarter. First Horizon Advisors Inc. now owns 452 shares of the utilities provider’s stock worth $91,000 after acquiring an additional 371 shares during the last quarter. Institutional investors own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Daiwa Capital Markets set a $200.00 target price on shares of Talen Energy in a report on Wednesday, March 5th. Bank of America initiated coverage on Talen Energy in a research report on Monday, February 3rd. They issued a “buy” rating and a $253.00 price target for the company. Evercore ISI initiated coverage on Talen Energy in a research report on Friday, February 21st. They set an “outperform” rating on the stock. Oppenheimer increased their target price on shares of Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Barclays lowered their price target on shares of Talen Energy from $293.00 to $282.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $241.20.

Insider Activity at Talen Energy

In related news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $204.35, for a total transaction of $999,988,155.45. Following the completion of the transaction, the insider now directly owns 6,475,107 shares of the company’s stock, valued at $1,323,188,115.45. This represents a 43.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

Talen Energy Trading Down 6.0 %

Shares of NASDAQ:TLN opened at $165.75 on Tuesday. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07. The company’s 50 day moving average is $221.61 and its two-hundred day moving average is $182.82. The company has a market cap of $7.62 billion, a PE ratio of 8.87, a P/E/G ratio of 2.70 and a beta of 2.00. Talen Energy Corporation has a 52 week low of $98.50 and a 52 week high of $258.03.

Talen Energy Profile

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.