Bank of America Corp DE Invests $78.39 Million in Talen Energy Corporation $TLN

Key Points

• Bank of America acquired a new $78.4 million stake in Talen Energy during the second quarter, purchasing 204,016 shares and gaining approximately 0.43% ownership. BlackRock and MFN Partners also made substantially larger new investments.
• Analyst sentiment remains generally positive, with eight Buy ratings, three Holds, and one Sell. Talen has a “Moderate Buy” consensus rating and an average price target of $460.08, despite recent rating downgrades from Zacks Research and Weiss Ratings.
• Talen’s latest quarterly results fell short of expectations: the company reported a $2.00 loss per share versus the expected $3.21 profit and revenue of $747 million against an $832.81 million estimate. Shares opened at $292.30, near the company’s 52-week low of $279.77.

Bank of America Corp DE acquired a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 204,016 shares of the utilities provider's stock, valued at approximately $78,395,000. Bank of America Corp DE owned approximately 0.43% of Talen Energy at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Talen Energy during the second quarter worth about $1,673,803,000. MFN Partners Management LP acquired a new position in shares of Talen Energy in the second quarter worth $1,152,780,000. Norges Bank acquired a new position in shares of Talen Energy in the fourth quarter worth $225,930,000. Two Seas Capital LP purchased a new stake in shares of Talen Energy during the second quarter worth $194,900,000. Finally, William Blair Investment Management LLC purchased a new stake in shares of Talen Energy during the second quarter worth $191,231,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Analyst Ratings Changes

TLN has been the subject of a number of recent research reports. Zacks Research lowered Talen Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 27th. Morgan Stanley upped their price target on Talen Energy from $503.00 to $514.00 and gave the stock an "overweight" rating in a report on Friday. Jefferies Financial Group reduced their price target on Talen Energy from $453.00 to $422.00 and set a "hold" rating on the stock in a research report on Monday, July 20th. New Street Research set a $405.00 price objective on Talen Energy in a research note on Monday, August 24th. Finally, Weiss Ratings downgraded Talen Energy from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 18th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Talen Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $460.08.

Talen Energy Price Performance

TLN stock opened at $292.30 on Friday. The business has a 50 day moving average price of $332.24 and a 200 day moving average price of $348.64. The stock has a market cap of $14.00 billion, a price-to-earnings ratio of -70.10 and a beta of 1.84. Talen Energy Corporation has a fifty-two week low of $279.77 and a fifty-two week high of $451.28. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82.

Talen Energy (NASDAQ:TLN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing the consensus estimate of $3.21 by ($5.21). Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%.The company had revenue of $747.00 million for the quarter, compared to analysts' expectations of $832.81 million. Equities research analysts anticipate that Talen Energy Corporation will post 21.99 earnings per share for the current fiscal year.

Talen Energy Company Profile

Talen Energy Corporation is an independent power producer that owns and operates electricity-generating facilities in the United States. Its portfolio includes nuclear, natural gas, and other generation assets, which supply electricity to wholesale markets and customers across several regions.

The company's principal business activities include generating and selling electricity, capacity, and ancillary services. Talen's nuclear operations include the Susquehanna Steam Electric Station in Pennsylvania, while its broader portfolio serves markets primarily within the Eastern and Southern United States, including the PJM Interconnection.

Talen Energy was formed in 2015 through the combination of RRI Energy and power-generation assets owned by affiliates of Riverstone Holdings.

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