Calpine Corporation (NYSE:CPN) Lowered to Hold at BidaskClub
Calpine Corporation (NYSE:CPN) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
CPN has been the subject of a number of other research reports. Morgan Stanley set a $11.00 target price on Calpine Corporation and gave the stock a “hold” rating in a report on Tuesday, July 11th. Royal Bank Of Canada reiterated a “buy” rating and set a $15.00 price objective on shares of Calpine Corporation in a report on Monday, July 24th. BMO Capital Markets increased their price objective on Calpine Corporation from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Monday, July 31st. Citigroup Inc. set a $15.00 price objective on Calpine Corporation and gave the company a “buy” rating in a report on Thursday, July 6th. Finally, Deutsche Bank AG set a $14.00 price objective on Calpine Corporation and gave the company a “buy” rating in a report on Thursday, May 11th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Calpine Corporation presently has an average rating of “Hold” and an average target price of $14.80.
Shares of Calpine Corporation (NYSE CPN) traded up 0.15% on Thursday, reaching $13.70. The company’s stock had a trading volume of 149,238 shares. The firm has a 50-day moving average price of $13.85 and a 200 day moving average price of $12.15. Calpine Corporation has a one year low of $9.30 and a one year high of $14.76. The firm has a market capitalization of $4.94 billion, a PE ratio of 103.01 and a beta of 1.02.
Calpine Corporation (NYSE:CPN) last posted its 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. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Calpine Corporation had a negative return on equity of 8.92% and a net margin of 0.57%. The firm’s quarterly revenue was up 79.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS. On average, analysts anticipate that Calpine Corporation will post $0.54 earnings per share for the current fiscal year.
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Institutional investors have recently modified their holdings of the company. Nordea Investment Management AB raised its position in shares of Calpine Corporation by 85.0% in the first quarter. Nordea Investment Management AB now owns 9,935 shares of the utilities provider’s stock worth $110,000 after buying an additional 4,565 shares during the period. Hourglass Capital LLC purchased a new position in shares of Calpine Corporation during the second quarter worth about $135,000. Advisors Asset Management Inc. raised 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. Wedbush Securities Inc. purchased a new position in shares of Calpine Corporation during the second quarter worth about $145,000. Finally, BB&T Securities LLC purchased a new position in shares of Calpine Corporation during the first quarter worth about $134,000. Institutional investors own 92.71% of the company’s stock.
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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