Shares of Calpine Corp. (NYSE:CPN) dropped 3.7% during trading on Wednesday . The company traded as low as $14.20 and last traded at $14.21, with a volume of 1,953,590 shares traded. The stock had previously closed at $14.75.

CPN has been the subject of a number of analyst reports. Citigroup Inc. reduced their price target on Calpine Corp. from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, March 29th. BMO Capital Markets restated a “buy” rating on shares of Calpine Corp. in a research report on Wednesday, June 22nd. Royal Bank Of Canada restated a “buy” rating on shares of Calpine Corp. in a research report on Tuesday, May 31st. Deutsche Bank AG upgraded Calpine Corp. from a “hold” rating to a “buy” rating and upped their price target for the stock from $18.00 to $20.00 in a research report on Tuesday. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Calpine Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 11th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Calpine Corp. currently has an average rating of “Buy” and a consensus target price of $20.13.

The company’s 50-day moving average price is $14.51 and its 200 day moving average price is $14.46. The stock has a market capitalization of $5.05 billion and a P/E ratio of 111.59.

Calpine Corp. (NYSE:CPN) last issued its quarterly earnings results on Friday, April 29th. The company reported ($0.56) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.50. During the same period in the prior year, the company posted ($0.03) earnings per share. The business earned $1.62 billion during the quarter, compared to the consensus estimate of $1.38 billion. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that Calpine Corp. will post $0.49 EPS for the current year.

In other Calpine Corp. news, Director Jack A. Fusco sold 235,000 shares of Calpine Corp. stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $14.78, for a total transaction of $3,473,300.00. Following the completion of the transaction, the director now owns 852,525 shares in the company, valued at approximately $12,600,319.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack A. Fusco sold 68,000 shares of Calpine Corp. stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $15.76, for a total value of $1,071,680.00. Following the transaction, the director now owns 818,525 shares of the company’s stock, valued at approximately $12,899,954. The disclosure for this sale can be found here.

Several institutional investors recently added to or reduced their stakes in the stock. Strategic Global Advisors LLC raised its position in Calpine Corp. by 0.8% in the fourth quarter. Strategic Global Advisors LLC now owns 106,288 shares of the company’s stock worth $1,538,000 after buying an additional 881 shares during the last quarter. California Public Employees Retirement System raised its position in Calpine Corp. by 0.6% in the fourth quarter. California Public Employees Retirement System now owns 981,040 shares of the company’s stock worth $14,196,000 after buying an additional 5,800 shares during the last quarter. BOKF NA raised its position in Calpine Corp. by 5.7% in the fourth quarter. BOKF NA now owns 142,576 shares of the company’s stock worth $2,063,000 after buying an additional 7,731 shares during the last quarter. Andra AP fonden raised its position in Calpine Corp. by 8.5% in the fourth quarter. Andra AP fonden now owns 270,900 shares of the company’s stock worth $3,920,000 after buying an additional 21,200 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Calpine Corp. by 7.1% in the fourth quarter. First Trust Advisors LP now owns 382,112 shares of the company’s stock worth $5,529,000 after buying an additional 25,407 shares during the last quarter.

Calpine Corporation is a power generation company. The Company is engaged in the ownership and operation of primarily natural gas-fired and geothermal power plants in North America. The Company’s segments include West (including geothermal), Texas and East (including Canada). In the Northeast and Mid-Atlantic regions, the Company has generating units capable of burning either natural gas or fuel oil.

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