Allegheny Financial Group Lowers Holdings in Talen Energy Corporation (NASDAQ:TLN)

Allegheny Financial Group reduced its stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 60.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,522 shares of the utilities provider's stock after selling 5,384 shares during the period. Allegheny Financial Group's holdings in Talen Energy were worth $710,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wedbush Securities Inc. increased its stake in Talen Energy by 5.1% in the 4th quarter. Wedbush Securities Inc. now owns 1,261 shares of the utilities provider's stock worth $254,000 after acquiring an additional 61 shares during the last quarter. Allworth Financial LP increased its position in shares of Talen Energy by 170.6% during 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 last quarter. Jones Financial Companies Lllp purchased a new position in shares of Talen Energy during the 4th quarter valued at about $37,000. Geneos Wealth Management Inc. bought a new stake in Talen Energy in the 4th quarter worth approximately $39,000. Finally, Empowered Funds LLC bought a new position in Talen Energy during the fourth quarter valued at approximately $42,000. 0.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TLN shares. Daiwa Capital Markets set a $200.00 price target on Talen Energy in a research report on Wednesday, March 5th. Evercore ISI started coverage on Talen Energy in a research note on Friday, February 21st. They issued an "outperform" rating for the company. JPMorgan Chase & Co. dropped their price objective on shares of Talen Energy from $295.00 to $265.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Bank of America assumed coverage on Talen Energy in a research report on Monday, February 3rd. They set a "buy" rating and a $253.00 price objective for the company. Finally, Barclays cut their target price on Talen Energy from $293.00 to $282.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 4th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Talen Energy has an average rating of "Buy" and a consensus target price of $240.18.

Talen Energy Stock Performance

Shares of TLN traded down $3.92 on Wednesday, reaching $230.80. The company's stock had a trading volume of 470,504 shares, compared to its average volume of 1,102,652. Talen Energy Corporation has a 12-month low of $98.50 and a 12-month high of $258.03. The stock has a market capitalization of $10.50 billion, a P/E ratio of 12.36, a PEG ratio of 2.70 and a beta of 1.90. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37. The stock's 50 day simple moving average is $201.68 and its two-hundred day simple moving average is $208.98.

Talen Energy Company 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.