Calpine Corporation (CPN) Shares Sold by Farmhouse Investment Management LLC
Farmhouse Investment Management LLC reduced its stake in shares of Calpine Corporation (NYSE:CPN) by 7.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 829,000 shares of the utilities provider’s stock after selling 62,500 shares during the period. Calpine Corporation accounts for 5.3% of Farmhouse Investment Management LLC’s investment portfolio, making the stock its 8th largest position. Farmhouse Investment Management LLC owned 0.23% of Calpine Corporation worth $11,216,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB increased its position in Calpine Corporation by 85.0% in the first quarter. Nordea Investment Management AB now owns 9,935 shares of the utilities provider’s stock valued at $110,000 after buying an additional 4,565 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Calpine Corporation by 20.7% in the first quarter. Advisors Asset Management Inc. now owns 10,106 shares of the utilities provider’s stock worth $112,000 after buying an additional 1,732 shares during the period. BB&T Securities LLC purchased a new position in shares of Calpine Corporation during the first quarter worth approximately $134,000. Morningstar Investment Services LLC purchased a new position in shares of Calpine Corporation during the first quarter worth approximately $148,000. Finally, Hexavest Inc. purchased a new position in shares of Calpine Corporation during the first quarter worth approximately $152,000. Institutional investors and hedge funds own 92.71% of the company’s stock.
Calpine Corporation (CPN) opened at 14.00 on Wednesday. The firm has a market cap of $5.05 billion, a PE ratio of 105.26 and a beta of 1.02. The firm’s 50-day moving average is $13.73 and its 200 day moving average is $12.07. Calpine Corporation has a 12-month low of $9.30 and a 12-month high of $14.76.
Calpine Corporation (NYSE:CPN) last released its quarterly earnings results on Friday, July 28th. The utilities provider reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by $0.63. Calpine Corporation had a negative return on equity of 8.92% and a net margin of 0.57%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the business posted $0.06 EPS. The firm’s quarterly revenue was up 79.0% compared to the same quarter last year. Equities research analysts predict that Calpine Corporation will post $0.54 EPS for the current year.
A number of equities analysts have commented on the stock. ValuEngine raised shares of Calpine Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub raised shares of Calpine Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. BMO Capital Markets boosted their price target on shares of Calpine Corporation from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. Royal Bank Of Canada set a $13.00 price target on shares of Calpine Corporation and gave the company a “buy” rating in a research note on Saturday, June 3rd. Finally, Zacks Investment Research raised shares of Calpine Corporation from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Monday, June 26th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Calpine Corporation currently has an average rating of “Hold” and an average target price of $14.80.
Calpine Corporation 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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