PNC Financial Services Group Inc. Decreases Stake in Talen Energy Corporation (NASDAQ:TLN)

PNC Financial Services Group Inc. lowered its position in Talen Energy Corporation (NASDAQ:TLN) by 12.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,347 shares of the utilities provider’s stock after selling 457 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Talen Energy were worth $674,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in Talen Energy by 170.6% in the 4th quarter. Allworth Financial LP now owns 184 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 116 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in Talen Energy in the 4th quarter worth about $37,000. Geneos Wealth Management Inc. purchased a new position in Talen Energy during the 4th quarter valued at about $39,000. BNP Paribas Financial Markets purchased a new position in Talen Energy during the 3rd quarter valued at about $36,000. Finally, Empowered Funds LLC purchased a new position in Talen Energy during the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Stock Performance

NASDAQ:TLN opened at $202.74 on Wednesday. The business has a 50 day moving average of $219.37 and a 200 day moving average of $186.68. The company has a market capitalization of $9.32 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 2.70 and a beta of 2.00. Talen Energy Corporation has a 1-year low of $98.50 and a 1-year high of $258.03. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Barclays reduced their target price on Talen Energy from $293.00 to $282.00 and set an “overweight” rating for the company in a report on Tuesday, March 4th. UBS Group lifted their target price on Talen Energy from $242.00 to $269.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Evercore ISI assumed coverage on Talen Energy in a report on Friday, February 21st. They set an “outperform” rating 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 target price for the company. Finally, Daiwa Capital Markets set a $200.00 target price on Talen Energy in a report on Wednesday, March 5th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $241.36.

Talen Energy Company 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.