Calpine Corp. (CPN) Stock Price Down 0.7%
Calpine Corp. (NYSE:CPN) shares fell 0.7% during trading on Monday . The company traded as low as $13.04 and last traded at $13.20, with a volume of 1,629,284 shares trading hands. The stock had previously closed at $13.29.
A number of brokerages recently commented on CPN. SunTrust Banks Inc. upped their target price on Calpine Corp. from $13.00 to $14.00 in a research note on Monday, August 29th. Zacks Investment Research upgraded Calpine Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. BMO Capital Markets cut their target price on Calpine Corp. from $19.00 to $17.00 and set an “outperform” rating for the company in a research note on Monday, August 1st. Deutsche Bank AG upgraded Calpine Corp. from a “hold” rating to a “buy” rating and upped their target price for the company from $18.00 to $20.00 in a research note on Tuesday, July 26th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Calpine Corp. in a research note on Tuesday, May 31st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $19.71.
The firm’s 50 day moving average price is $12.86 and its 200 day moving average price is $14.23. The firm’s market capitalization is $4.89 billion.
Calpine Corp. (NYSE:CPN) last issued its earnings results on Friday, July 29th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.29 billion. Calpine Corp. had a positive return on equity of 10.79% and a negative net margin of 0.02%. The business’s revenue was down 19.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 earnings per share. Equities research analysts predict that Calpine Corp. will post $0.44 EPS for the current year.
In related news, Director Jack A. Fusco sold 24,800 shares of the business’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $14.75, for a total value of $365,800.00. Following the completion of the sale, the director now directly owns 722,825 shares in the company, valued at approximately $10,661,668.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack A. Fusco sold 154,600 shares of the business’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $14.72, for a total value of $2,275,712.00. Following the completion of the sale, the director now owns 737,625 shares of the company’s stock, valued at $10,857,840. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Calpine Corp. by 2.0% in the second quarter. Vanguard Group Inc. now owns 26,842,053 shares of the company’s stock valued at $395,920,000 after buying an additional 523,939 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Calpine Corp. by 10.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,911,137 shares of the company’s stock valued at $249,439,000 after buying an additional 1,565,268 shares during the period. Carlson Capital L P increased its stake in Calpine Corp. by 31.1% in the second quarter. Carlson Capital L P now owns 12,406,679 shares of the company’s stock valued at $182,999,000 after buying an additional 2,945,144 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Calpine Corp. by 0.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 11,472,098 shares of the company’s stock valued at $169,213,000 after buying an additional 76,700 shares during the period. Finally, Sound Shore Management Inc. CT purchased a new stake in Calpine Corp. during the second quarter valued at about $146,310,000. Institutional investors and hedge funds own 92.67% of the company’s stock.
About Calpine Corp.
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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