Bank of America Corp DE Cuts Position in Talen Energy Corporation (NASDAQ:TLN)

Bank of America Corp DE cut its holdings 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 13F filing with the Securities and Exchange Commission. The firm owned 36,355 shares of the utilities provider's stock after selling 15,893 shares during the period. Bank of America Corp DE owned 0.07% of Talen Energy worth $7,324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. grew its stake in shares of Talen Energy by 6.1% during the 4th quarter. Ameriprise Financial Inc. now owns 4,518 shares of the utilities provider's stock worth $910,000 after acquiring an additional 261 shares in the last quarter. Aristeia Capital L.L.C. bought a new position in Talen Energy during the fourth quarter worth $228,000. 4D Advisors LLC bought a new position in Talen Energy during the fourth quarter worth $4,533,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Talen Energy during the fourth quarter worth $423,000. Finally, Castalian Partners LLC acquired a new stake in shares of Talen Energy during the fourth quarter worth $8,361,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Stock Up 0.1%

Shares of TLN traded up $0.28 on Friday, hitting $244.97. 60,383 shares of the stock traded hands, compared to its average volume of 1,078,153. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10. Talen Energy Corporation has a one year low of $98.50 and a one year high of $258.03. The company has a market capitalization of $11.15 billion, a PE ratio of 13.11, a P/E/G ratio of 2.70 and a beta of 1.90. The business has a 50 day simple moving average of $216.07 and a 200 day simple moving average of $215.13.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on TLN. Morgan Stanley began coverage on Talen Energy in a research note on Wednesday, March 12th. They issued an "overweight" rating and a $243.00 price target for the company. Bank of America assumed coverage on Talen Energy in a report on Monday, February 3rd. They set a "buy" rating and a $253.00 price target on the stock. Barclays reduced their target price on Talen Energy from $293.00 to $282.00 and set an "overweight" rating on the stock in a report on Tuesday, March 4th. UBS Group cut their price target on Talen Energy from $275.00 to $259.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, Evercore ISI assumed coverage on Talen Energy in a report on Friday, February 21st. They set an "outperform" rating on the stock. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Talen Energy currently has an average rating of "Moderate Buy" and an average price target of $240.18.

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.