Comerica Bank Raises Holdings in Talen Energy Corporation (NASDAQ:TLN)

Comerica Bank lifted its holdings in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 1,606.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 62,416 shares of the utilities provider's stock after acquiring an additional 58,759 shares during the period. Comerica Bank owned approximately 0.12% of Talen Energy worth $12,575,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Allworth Financial LP raised its position in Talen Energy by 170.6% during the 4th quarter. Allworth Financial LP now owns 184 shares of the utilities provider's stock worth $37,000 after buying an additional 116 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Talen Energy during the fourth quarter worth $37,000. Geneos Wealth Management Inc. acquired a new position in Talen Energy during the fourth quarter valued at $39,000. Empowered Funds LLC purchased a new stake in Talen Energy in the fourth quarter valued at $42,000. Finally, Whipplewood Advisors LLC acquired a new stake in Talen Energy during the 4th quarter worth about $53,000. Institutional investors and hedge funds own 0.38% of the company's stock.

Talen Energy Trading Down 1.6 %

NASDAQ:TLN traded down $3.66 during trading hours on Monday, hitting $222.28. The company had a trading volume of 768,461 shares, compared to its average volume of 1,104,028. Talen Energy Corporation has a 1 year low of $98.50 and a 1 year high of $258.03. 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 has a 50-day moving average of $201.02 and a 200 day moving average of $208.80. The company has a market cap of $10.12 billion, a P/E ratio of 11.90, a P/E/G ratio of 2.70 and a beta of 1.90.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TLN. Morgan Stanley began coverage on Talen Energy in a research report on Wednesday, March 12th. They set an "overweight" rating and a $243.00 price target for the company. JPMorgan Chase & Co. decreased their target price on shares of Talen Energy from $295.00 to $265.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Daiwa Capital Markets set a $200.00 price objective on shares of Talen Energy in a report on Wednesday, March 5th. UBS Group dropped their target price on Talen Energy from $275.00 to $259.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Evercore ISI began coverage on Talen Energy in a report on Friday, February 21st. They issued an "outperform" rating for the company. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $240.18.

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.