We have observed PSR~B1534+12 (J1537+1155), a pulsar with a neutron star companion, using the Five-hundred-meter Aperture Spherical radio Telescope (FAST). We found that this pulsar shows two distinct emission states: a weak state with a wide pulse profile and a burst state with a narrow pulse profile. The weak state is always present. We cannot, with our current data, determine whether the pulse energy of the weak state follows a normal or a log-normal distribution. The burst state energy distribution follows a power-law. The amplitude of the single pulse emission in the burst state varies significantly; the peak flux intensity of the brightest pulse is 334 times stronger than that of the average pulse. We also examined the timing precision achievable using only bright pulses, which showed no demonstrable improvement because of pulse jitter and therefore quantified the jitter noise level for this pulsar.