Talen Energy Corporation (NASDAQ:TLN) Holdings Lowered by Reaves W H & Co. Inc.

Reaves W H & Co. Inc. decreased its stake in Talen Energy Corporation (NASDAQ:TLN) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,270,773 shares of the utilities provider’s stock after selling 42,293 shares during the quarter. Talen Energy makes up 6.8% of Reaves W H & Co. Inc.’s holdings, making the stock its largest position. Reaves W H & Co. Inc.’s holdings in Talen Energy were worth $256,022,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Allworth Financial LP boosted its position in Talen Energy by 170.6% during the fourth quarter. Allworth Financial LP now owns 184 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 116 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in Talen Energy during the fourth quarter worth approximately $37,000. Geneos Wealth Management Inc. purchased a new position in Talen Energy during the fourth quarter worth approximately $39,000. BNP Paribas Financial Markets purchased a new position in Talen Energy during the third quarter worth approximately $36,000. Finally, Empowered Funds LLC purchased a new position in Talen Energy during the fourth quarter worth approximately $42,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Insider Activity at Talen Energy

In related news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 6,475,107 shares of the company’s stock, valued at approximately $1,323,188,115.45. This trade represents a 43.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Talen Energy Price Performance

NASDAQ:TLN opened at $188.02 on Tuesday. Talen Energy Corporation has a one year low of $79.00 and a one year high of $258.03. 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 stock has a market cap of $9.56 billion, a PE ratio of 10.07, a P/E/G ratio of 2.70 and a beta of 1.70. The stock has a 50 day moving average price of $223.23 and a 200 day moving average price of $180.31.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TLN shares. UBS Group increased their price target on Talen Energy from $242.00 to $269.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Bank of America started coverage on Talen Energy in a research report on Monday, February 3rd. They set a “buy” rating and a $253.00 price target on the stock. Evercore ISI started coverage on Talen Energy in a research report on Friday, February 21st. They set an “outperform” rating on the stock. Daiwa Capital Markets started coverage on Talen Energy in a report on Wednesday, December 4th. They set a “buy” rating and a $248.00 target price for the company. Finally, Barclays increased their target price on Talen Energy from $245.00 to $293.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Talen Energy currently has a consensus rating of “Buy” and an average price target of $247.10.

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.