Bank of New York Mellon Corp Buys New Position in Talen Energy Corporation $TLN

Bank of New York Mellon Corp acquired a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 290,867 shares of the utilities provider's stock, valued at approximately $111,768,000. Bank of New York Mellon Corp owned approximately 0.61% of Talen Energy as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Advisory Services Network LLC purchased a new position in shares of Talen Energy during the third quarter worth approximately $35,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Talen Energy by 1,500.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 90 shares during the period. Bessemer Group Inc. grew its position in Talen Energy by 404.0% during the 1st quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider's stock worth $41,000 after acquiring an additional 101 shares during the last quarter. Rothschild Investment LLC increased its stake in Talen Energy by 235.0% in the 4th quarter. Rothschild Investment LLC now owns 134 shares of the utilities provider's stock worth $50,000 after purchasing an additional 94 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Talen Energy by 266.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 172 shares of the utilities provider's stock worth $50,000 after purchasing an additional 125 shares during the period. Institutional investors own 0.38% of the company's stock.

Insider Activity at Talen Energy

In related news, Director Gizman I. Abbas sold 2,600 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the sale, the director owned 2,606 shares in the company, valued at $990,280. This represents a 49.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.78% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. BNP Paribas Exane reiterated an "outperform" rating and set a $560.00 price target on shares of Talen Energy in a report on Wednesday, August 19th. New Street Research set a $405.00 price target on shares of Talen Energy in a report on Monday. Weiss Ratings cut shares of Talen Energy from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 18th. Morgan Stanley lowered their price objective on shares of Talen Energy from $508.00 to $503.00 and set an "overweight" rating for the company in a research note on Friday. Finally, Susquehanna set a $449.00 target price on shares of Talen Energy in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Talen Energy has a consensus rating of "Moderate Buy" and a consensus price target of $466.86.

Talen Energy Trading Down 2.8%

Shares of NASDAQ TLN opened at $305.54 on Tuesday. Talen Energy Corporation has a 1 year low of $301.45 and a 1 year high of $451.28. The stock has a market cap of $14.64 billion, a P/E ratio of -73.27 and a beta of 1.90. The firm has a 50-day moving average of $367.53 and a 200 day moving average of $357.04. The company has a debt-to-equity ratio of 5.82, a current ratio of 0.78 and a quick ratio of 0.55.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) EPS 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 business had revenue of $747.00 million for the quarter, compared to the consensus estimate of $832.81 million. As a group, sell-side analysts expect that Talen Energy Corporation will post 25.07 EPS for the current fiscal year.

About Talen Energy

Talen Energy Inc is an independent power producer that develops and operates a diversified portfolio of thermal and renewable generation facilities across the United States. The company supplies wholesale electricity and related services to utilities, large industrial customers, and power marketers, participating actively in regional markets such as PJM Interconnection and the Electric Reliability Council of Texas (ERCOT). Talen's asset base comprises a mix of natural gas-fired, coal-fired and nuclear generation, supplemented by battery storage and other flexible resources designed to support the evolving needs of the grid.

Established in December 2015 through the combination of the competitive generation businesses previously held by two major utility groups, Talen Energy was structured as a standalone, publicly traded entity on the NASDAQ stock exchange (TLN).

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