Valueworks LLC Reduces Stake in Calpine Corporation (CPN)
Valueworks LLC reduced its position in Calpine Corporation (NYSE:CPN) by 2.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 341,800 shares of the utilities provider’s stock after selling 7,650 shares during the period. Calpine Corporation accounts for approximately 2.9% of Valueworks LLC’s holdings, making the stock its 18th largest position. Valueworks LLC’s holdings in Calpine Corporation were worth $3,776,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. GSA Capital Partners LLP increased its stake in shares of Calpine Corporation by 21.2% in the fourth quarter. GSA Capital Partners LLP now owns 15,905 shares of the utilities provider’s stock worth $182,000 after buying an additional 2,785 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of Calpine Corporation during the fourth quarter worth about $584,000. Renaissance Technologies LLC increased its stake in shares of Calpine Corporation by 55.3% in the fourth quarter. Renaissance Technologies LLC now owns 45,200 shares of the utilities provider’s stock worth $517,000 after buying an additional 16,100 shares in the last quarter. Credit Agricole S A increased its stake in shares of Calpine Corporation by 267.3% in the fourth quarter. Credit Agricole S A now owns 243,658 shares of the utilities provider’s stock worth $2,786,000 after buying an additional 177,321 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Calpine Corporation during the fourth quarter worth about $328,000. Institutional investors own 93.31% of the company’s stock.
Shares of Calpine Corporation (NYSE CPN) traded up 1.11% during trading on Thursday, hitting $13.65. The stock had a trading volume of 6,458,981 shares. The company’s 50 day moving average price is $12.54 and its 200 day moving average price is $11.60. Calpine Corporation has a 12 month low of $9.30 and a 12 month high of $15.12. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 20.74 and a beta of 0.99.
Calpine Corporation (NYSE:CPN) last issued its quarterly earnings results on Friday, April 28th. The utilities provider reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.15. Calpine Corporation had a negative return on equity of 1.59% and a net margin of 3.17%. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the company earned ($0.65) EPS. Calpine Corporation’s revenue for the quarter was up 41.2% compared to the same quarter last year. Equities research analysts expect that Calpine Corporation will post $0.51 earnings per share for the current fiscal year.
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A number of brokerages recently issued reports on CPN. Royal Bank Of Canada raised their price target on Calpine Corporation from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Thursday. ValuEngine downgraded Calpine Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Citigroup Inc. set a $15.00 price target on Calpine Corporation and gave the stock a “buy” rating in a research report on Thursday, May 11th. Deutsche Bank AG set a $14.00 target price on Calpine Corporation and gave the stock a “buy” rating in a research note on Thursday, May 11th. Finally, Zacks Investment Research lowered Calpine Corporation from a “hold” rating to a “strong sell” rating in a research note on Monday, April 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Calpine Corporation presently has an average rating of “Hold” and an average target price of $14.63.
About Calpine Corporation
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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