Calpine Corp. (CPN) Shares Sold by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. cut its position in Calpine Corp. (NYSE:CPN) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 992,071 shares of the company’s stock after selling 12,814 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.28% of Calpine Corp. worth $14,632,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in shares of Calpine Corp. by 46.2% in the first quarter. Envestnet Asset Management Inc. now owns 6,731 shares of the company’s stock valued at $102,000 after buying an additional 2,128 shares during the period. Seven Bridges Advisors LLC purchased a new position in shares of Calpine Corp. during the second quarter valued at approximately $102,000. Howard Hughes Medical Institute purchased a new position in shares of Calpine Corp. during the first quarter valued at approximately $105,000. Independent Portfolio Consultants Inc. raised its position in shares of Calpine Corp. by 61.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 7,875 shares of the company’s stock valued at $116,000 after buying an additional 2,985 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in shares of Calpine Corp. during the second quarter valued at approximately $161,000. Institutional investors and hedge funds own 92.67% of the company’s stock.
Calpine Corp. (NYSE:CPN) traded down 0.109% during midday trading on Thursday, reaching $13.775. The company’s stock had a trading volume of 1,713,613 shares. Calpine Corp. has a 12-month low of $11.53 and a 12-month high of $16.60. The firm’s market cap is $4.95 billion. The company’s 50-day moving average is $12.87 and its 200 day moving average is $14.22.
Calpine Corp. (NYSE:CPN) last announced its quarterly earnings data 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. Calpine Corp. had a negative net margin of 0.02% and a positive return on equity of 10.79%. The business earned $1.16 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Calpine Corp.’s revenue was down 19.3% on a year-over-year basis. Equities analysts forecast that Calpine Corp. will post $0.44 earnings per share for the current year.
Several equities analysts have recently commented on CPN shares. Deutsche Bank AG upgraded Calpine Corp. from a “hold” rating to a “buy” rating and increased their price objective for the company from $18.00 to $20.00 in a research report on Tuesday, July 26th. They noted that the move was a valuation call. SunTrust Banks Inc. reduced their price objective on Calpine Corp. from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 24th. Zacks Investment Research lowered Calpine Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. BMO Capital Markets reiterated a “buy” rating on shares of Calpine Corp. in a research report on Wednesday, June 22nd. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Calpine Corp. in a research report on Tuesday, May 31st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $19.71.
In other news, Director Jack A. Fusco sold 154,600 shares of Calpine Corp. stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $14.72, for a total value of $2,275,712.00. Following the sale, the director now directly owns 737,625 shares of the company’s stock, valued at $10,857,840. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack A. Fusco sold 24,800 shares of Calpine Corp. stock in a transaction dated 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 $10,661,668.75. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
Calpine Corp. Company Profile
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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