Bank of New York Mellon Corp Raises Stock Holdings in Talen Energy Corporation (NASDAQ:TLN)

Bank of New York Mellon Corp raised its holdings in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 37.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,533 shares of the utilities provider's stock after purchasing an additional 36,325 shares during the quarter. Bank of New York Mellon Corp owned 0.29% of Talen Energy worth $26,663,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TLN. Vanguard Group Inc. boosted its stake in shares of Talen Energy by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider's stock worth $964,302,000 after acquiring an additional 256,414 shares in the last quarter. Crescent Grove Advisors LLC purchased a new stake in Talen Energy in the 1st quarter valued at approximately $285,000. Sei Investments Co. lifted its stake in Talen Energy by 109.4% in the 4th quarter. Sei Investments Co. now owns 59,686 shares of the utilities provider's stock valued at $12,024,000 after buying an additional 31,180 shares in the last quarter. Cinctive Capital Management LP lifted its stake in Talen Energy by 443.2% in the 4th quarter. Cinctive Capital Management LP now owns 32,871 shares of the utilities provider's stock valued at $6,623,000 after buying an additional 26,820 shares in the last quarter. Finally, Situational Awareness LP purchased a new stake in Talen Energy in the 4th quarter valued at approximately $27,980,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

Insider Transactions at Talen Energy

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the completion of the transaction, the insider owned 5,734,970 shares in the company, valued at $1,697,780,518.80. This trade represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 388,530 shares of company stock worth $114,090,933 in the last three months. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on TLN shares. Raymond James Financial assumed coverage on Talen Energy in a report on Friday, June 13th. They issued an "outperform" rating and a $314.00 price target for the company. JPMorgan Chase & Co. lowered their target price on Talen Energy from $295.00 to $265.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. UBS Group lifted their price target on Talen Energy from $366.00 to $399.00 and gave the stock a "buy" rating in a research note on Friday. Jefferies Financial Group lifted their price target on Talen Energy from $326.00 to $380.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Oppenheimer set a $315.00 price objective on Talen Energy and gave the company an "outperform" rating in a research report on Friday, July 11th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Talen Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $289.92.

Talen Energy Price Performance

Shares of NASDAQ:TLN traded up $64.63 during midday trading on Friday, hitting $328.63. The stock had a trading volume of 4,479,723 shares, compared to its average volume of 1,104,900. The company's 50-day moving average price is $265.26 and its 200-day moving average price is $231.31. The company has a market capitalization of $14.96 billion, a P/E ratio of 34.13, a price-to-earnings-growth ratio of 6.37 and a beta of 1.85. Talen Energy Corporation has a fifty-two week low of $98.50 and a fifty-two week high of $330.76. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 2.52.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $1.17 by ($0.35). Talen Energy had a net margin of 28.51% and a return on equity of 11.47%. The firm had revenue of $390.00 million during the quarter, compared to the consensus estimate of $556.93 million. As a group, equities research analysts predict that Talen Energy Corporation will post 15.94 EPS for the current fiscal 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.