Calpine Corp. (CPN) Trading Up 2.9%
Calpine Corp. (NYSE:CPN)’s share price was up 2.9% during mid-day trading on Tuesday . The company traded as high as $12.67 and last traded at $12.60, with a volume of 2,277,285 shares trading hands. The stock had previously closed at $12.24.
A number of equities analysts have recently issued reports on CPN shares. Deutsche Bank AG reiterated a “hold” rating on shares of Calpine Corp. in a research note on Wednesday, May 18th. Zacks Investment Research upgraded shares of Calpine Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 11th. BMO Capital Markets restated a “buy” rating on shares of Calpine Corp. in a research note on Wednesday, June 22nd. Finally, SunTrust Banks Inc. lowered their target price on shares of Calpine Corp. from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, May 19th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.63.
The stock has a 50-day moving average of $13.68 and a 200 day moving average of $14.23. The firm’s market capitalization is $4.47 billion.
Calpine Corp. (NYSE:CPN) last announced its earnings results 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. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The firm’s revenue for the quarter was down 19.3% compared to the same quarter last year. 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 235,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 31st. The shares were 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 available at this hyperlink. Also, Director Jack A. Fusco sold 154,600 shares of the business’s stock in a transaction that occurred 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 owns 737,625 shares of the company’s stock, valued at approximately $10,857,840. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Calpine Corp. stock. KBC Group NV boosted its stake in Calpine Corp. (NYSE:CPN) by 39.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 328,793 shares of the company’s stock after buying an additional 93,078 shares during the period. KBC Group NV owned about 0.09% of Calpine Corp. worth $4,758,000 at the end of the most recent 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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