Reaves W H & Co. Inc. Reduces Stake in Talen Energy Corporation (NASDAQ:TLN)

Reaves W H & Co. Inc. decreased its holdings in shares of Talen Energy Corporation (NASDAQ:TLN) by 3.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,270,773 shares of the utilities provider’s stock after selling 42,293 shares during the period. Talen Energy accounts for about 6.8% of Reaves W H & Co. Inc.’s portfolio, making the stock its largest position. Reaves W H & Co. Inc. owned 2.50% of Talen Energy worth $256,022,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TLN. Allworth Financial LP lifted its stake in shares of Talen Energy by 170.6% during the 4th quarter. Allworth Financial LP now owns 184 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 116 shares during the last quarter. Jones Financial Companies Lllp bought a new position in Talen Energy in the fourth quarter worth about $37,000. Geneos Wealth Management Inc. purchased a new stake in shares of Talen Energy during the fourth quarter valued at about $39,000. BNP Paribas Financial Markets bought a new stake in shares of Talen Energy in the 3rd quarter valued at about $36,000. Finally, Empowered Funds LLC purchased a new position in shares of Talen Energy in the 4th quarter worth approximately $42,000. Institutional investors own 0.38% of the company’s stock.

Insider Activity

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $204.35, for a total value of $999,988,155.45. Following the transaction, the insider now directly owns 6,475,107 shares of the company’s stock, valued at approximately $1,323,188,115.45. This represents a 43.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Talen Energy Stock Down 9.6 %

Shares of TLN stock opened at $188.02 on Tuesday. The stock’s 50-day simple moving average is $223.23 and its 200-day simple moving average is $180.31. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10. The firm has a market capitalization of $9.56 billion, a PE ratio of 10.07, a P/E/G ratio of 2.70 and a beta of 1.70. Talen Energy Corporation has a fifty-two week low of $79.00 and a fifty-two week high of $258.03.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TLN. UBS Group increased their target price on shares of Talen Energy from $242.00 to $269.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Barclays upped their price target on Talen Energy from $245.00 to $293.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Bank of America initiated coverage on Talen Energy in a research report on Monday, February 3rd. They issued a “buy” rating and a $253.00 price objective for the company. Oppenheimer upped their target price on Talen Energy from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Evercore ISI initiated coverage on Talen Energy in a research report on Friday, February 21st. They set an “outperform” rating on the stock. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $247.10.

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.