Calpine Corp. (CPN) Trading Down 2.8%
Calpine Corp. (NYSE:CPN)’s share price dropped 2.8% on Friday . The company traded as low as $12.21 and last traded at $12.22, with a volume of 1,181,388 shares traded. The stock had previously closed at $12.57.
CPN has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Calpine Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. Deutsche Bank AG restated a “hold” rating on shares of Calpine Corp. in a report on Wednesday, May 18th. SunTrust Banks Inc. lowered their target price on shares of Calpine Corp. from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Royal Bank Of Canada restated a “buy” rating on shares of Calpine Corp. in a report on Tuesday, May 31st. Finally, BMO Capital Markets restated a “buy” rating on shares of Calpine Corp. in a report on Wednesday, June 22nd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Calpine Corp. has a consensus rating of “Buy” and a consensus target price of $19.79.
The firm’s market capitalization is $4.40 billion. The stock’s 50 day moving average price is $13.91 and its 200 day moving average price is $14.33.
Calpine Corp. (NYSE:CPN) last issued its quarterly earnings data on Friday, July 29th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by $0.06. During the same quarter in the previous year, the business posted $0.09 EPS. The business earned $1.16 billion during the quarter, compared to analyst estimates of $1.29 billion. The company’s quarterly revenue was down 19.3% on a year-over-year basis. Equities analysts forecast that Calpine Corp. will post $0.45 EPS for the current year.
In other Calpine Corp. news, Director Jack A. Fusco sold 154,600 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $14.72, for a total transaction of $2,275,712.00. Following the transaction, the director now directly owns 737,625 shares in the company, valued at approximately $10,857,840. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jack A. Fusco sold 68,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $12,899,954. The disclosure for this sale can be found here.
Other institutional investors recently modified their holdings of the company. Suntrust Banks Inc. bought a new position in shares of Calpine Corp. during the fourth quarter valued at $1,225,000. KBC Group NV boosted its position in shares of Calpine Corp. by 39.5% in the fourth quarter. KBC Group NV now owns 328,793 shares of the company’s stock valued at $4,758,000 after buying an additional 93,078 shares during the period. Jennison Associates LLC boosted its position in shares of Calpine Corp. by 16.9% in the fourth quarter. Jennison Associates LLC now owns 4,496,968 shares of the company’s stock valued at $65,071,000 after buying an additional 648,505 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Calpine Corp. by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,408,374 shares of the company’s stock valued at $78,249,000 after buying an additional 208,044 shares during the period.
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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