Bank of America Corp DE Sells 15,893 Shares of Talen Energy Corporation (NASDAQ:TLN)

Bank of America Corp DE cut its stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 30.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,355 shares of the utilities provider's stock after selling 15,893 shares during the quarter. Bank of America Corp DE owned about 0.07% of Talen Energy worth $7,324,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TLN. William Blair Investment Management LLC purchased a new position in shares of Talen Energy during the 4th quarter worth about $239,984,000. Pictet Asset Management Holding SA purchased a new stake in shares of Talen Energy during the fourth quarter valued at approximately $101,931,000. Clearbridge Investments LLC purchased a new stake in shares of Talen Energy during the fourth quarter valued at approximately $88,065,000. Vanguard Group Inc. raised its stake in shares of Talen Energy by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider's stock valued at $964,302,000 after purchasing an additional 256,414 shares during the period. Finally, Lone Pine Capital LLC raised its stake in shares of Talen Energy by 27.2% during the fourth quarter. Lone Pine Capital LLC now owns 1,089,380 shares of the utilities provider's stock valued at $219,477,000 after purchasing an additional 233,165 shares during the period. 0.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TLN shares. Wall Street Zen lowered shares of Talen Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. decreased their price target on shares of Talen Energy from $295.00 to $265.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Barclays decreased their price objective on shares of Talen Energy from $293.00 to $282.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. Daiwa Capital Markets set a $200.00 price target on shares of Talen Energy in a report on Wednesday, March 5th. Finally, Evercore ISI began coverage on shares of Talen Energy in a research report on Friday, February 21st. They issued an "outperform" rating on the stock. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Talen Energy presently has a consensus rating of "Moderate Buy" and an average price target of $240.18.

Talen Energy Price Performance

Shares of TLN traded down $0.11 during mid-day trading on Thursday, hitting $244.42. The company's stock had a trading volume of 296,262 shares, compared to its average volume of 1,081,482. The firm has a 50-day moving average price of $215.56 and a 200 day moving average price of $214.89. The stock has a market capitalization of $11.12 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 2.70 and a beta of 1.90. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37. Talen Energy Corporation has a fifty-two week low of $98.50 and a fifty-two week high of $258.03.

Talen Energy (NASDAQ:TLN - Get Free Report) last issued its earnings results on Thursday, May 8th. The utilities provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.35). The firm had revenue of $390.00 million during the quarter, compared to analyst estimates of $556.93 million. Talen Energy had a return on equity of 8.59% and a net margin of 50.48%. On average, research analysts predict that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

Talen Energy 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.