Comerica Bank Trims Stake in Talen Energy Corporation $TLN

Key Points

• Comerica Bank cut its stake in Talen Energy by 75.1% in Q4, selling 41,170 shares and retaining 13,669 shares valued at about $5.124 million at quarter-end.
• Analysts are broadly positive overall with a consensus rating of Moderate Buy and a $450.67 average price target, despite mixed recent moves (JPMorgan trimmed its target, BNP Paribas initiated at "outperform" with $548, and Wells Fargo raised its target to $506).

Comerica Bank reduced its position in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 75.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 13,669 shares of the utilities provider's stock after selling 41,170 shares during the period. Comerica Bank's holdings in Talen Energy were worth $5,124,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. grew its stake in Talen Energy by 1.6% during the 3rd quarter. American Century Companies Inc. now owns 342,914 shares of the utilities provider's stock worth $145,870,000 after buying an additional 5,389 shares during the last quarter. Reaves W H & Co. Inc. boosted its position in Talen Energy by 12.6% during the 3rd quarter. Reaves W H & Co. Inc. now owns 1,410,537 shares of the utilities provider's stock worth $600,014,000 after acquiring an additional 158,047 shares during the period. Mutual Advisors LLC acquired a new position in Talen Energy during the 3rd quarter worth $2,485,000. Principal Financial Group Inc. boosted its position in Talen Energy by 2,067.8% during the 3rd quarter. Principal Financial Group Inc. now owns 101,452 shares of the utilities provider's stock worth $43,156,000 after acquiring an additional 96,772 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Talen Energy by 57.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 376,562 shares of the utilities provider's stock worth $160,182,000 after acquiring an additional 137,182 shares during the period. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Price Performance

Shares of TLN stock opened at $372.16 on Friday. The stock has a 50 day moving average of $339.39 and a two-hundred day moving average of $363.54. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 6.20. Talen Energy Corporation has a 12 month low of $216.20 and a 12 month high of $451.28. The company has a market capitalization of $16.90 billion, a P/E ratio of -75.34, a P/E/G ratio of 0.53 and a beta of 1.90.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Talen Energy from $448.00 to $421.00 and set an "overweight" rating for the company in a report on Thursday, March 19th. Weiss Ratings lowered Talen Energy from a "hold (c)" rating to a "sell (d+)" rating in a report on Friday, February 27th. BNP Paribas Exane assumed coverage on Talen Energy in a report on Wednesday, March 18th. They issued an "outperform" rating and a $548.00 price objective for the company. Wells Fargo & Company upped their price objective on Talen Energy from $445.00 to $506.00 and gave the company an "overweight" rating in a report on Tuesday, January 20th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $457.00 target price on shares of Talen Energy in a report on Monday. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $450.67.

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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