Bank of New York Mellon Corp Purchases 105,847 Shares of Talen Energy Corporation $TLN

Bank of New York Mellon Corp boosted its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 79.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,380 shares of the utilities provider’s stock after buying an additional 105,847 shares during the period. Bank of New York Mellon Corp’s holdings in Talen Energy were worth $69,604,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Fred Alger Management LLC boosted its position in shares of Talen Energy by 56.3% during the 1st quarter. Fred Alger Management LLC now owns 1,492,145 shares of the utilities provider’s stock valued at $297,937,000 after acquiring an additional 537,398 shares in the last quarter. Third Point LLC bought a new position in Talen Energy during the first quarter worth about $116,807,000. American Century Companies Inc. boosted its holdings in Talen Energy by 39.9% during the first quarter. American Century Companies Inc. now owns 399,604 shares of the utilities provider’s stock valued at $79,789,000 after purchasing an additional 113,995 shares in the last quarter. PointState Capital LP bought a new stake in shares of Talen Energy in the 1st quarter valued at approximately $75,148,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Talen Energy in the 2nd quarter worth approximately $91,239,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Stock Performance

Talen Energy stock opened at $386.57 on Monday. The stock has a 50-day simple moving average of $407.51 and a 200 day simple moving average of $333.75. The stock has a market capitalization of $17.66 billion, a price-to-earnings ratio of 83.67, a P/E/G ratio of 2.37 and a beta of 1.83. The company has a quick ratio of 1.72, a current ratio of 2.29 and a debt-to-equity ratio of 2.02. Talen Energy Corporation has a 12-month low of $158.08 and a 12-month high of $451.28.

Talen Energy (NASDAQ:TLN) last posted its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $4.25 earnings per share for the quarter, beating the consensus estimate of $4.01 by $0.24. Talen Energy had a net margin of 9.83% and a return on equity of 13.52%. The firm had revenue of $812.00 million during the quarter, compared to analysts’ expectations of $707.90 million. During the same quarter last year, the company posted $3.16 EPS. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. On average, research analysts anticipate that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

TLN has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Talen Energy from $432.00 to $442.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Jefferies Financial Group lifted their price objective on Talen Energy from $326.00 to $380.00 and gave the company a “buy” rating in a report on Friday, July 18th. Wall Street Zen raised shares of Talen Energy from a “sell” rating to a “hold” rating in a report on Monday, August 11th. Scotiabank initiated coverage on shares of Talen Energy in a report on Monday, September 22nd. They set a “sector perform” rating and a $418.00 price target for the company. Finally, Barclays reduced their price target on shares of Talen Energy from $440.00 to $439.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 21st. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $395.07.

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.