Investors Sell Calpine Corporation (CPN) on Strength (CPN)
Traders sold shares of Calpine Corporation (NYSE:CPN) on strength during trading on Wednesday. $9.85 million flowed into the stock on the tick-up and $89.76 million flowed out of the stock on the tick-down, for a money net flow of $79.91 million out of the stock. Of all stocks tracked, Calpine Corporation had the 0th highest net out-flow for the day. Calpine Corporation traded up $0.01 for the day and closed at $14.83
Several research firms have recently weighed in on CPN. Morgan Stanley reissued an “equal weight” rating on shares of Calpine Corporation in a report on Monday, July 10th. Guggenheim downgraded Calpine Corporation from a “buy” rating to a “neutral” rating and reduced their target price for the company from $20.00 to $15.25 in a report on Monday, August 21st. Zacks Investment Research downgraded Calpine Corporation from a “hold” rating to a “strong sell” rating in a report on Monday. Royal Bank Of Canada boosted their target price on Calpine Corporation from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Thursday, June 22nd. Finally, BidaskClub raised Calpine Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.97.
The stock has a 50-day moving average of $14.68 and a 200-day moving average of $13.03. The firm has a market cap of $5.36 billion, a P/E ratio of 111.80 and a beta of 1.02.
Calpine Corporation (NYSE:CPN) last posted its quarterly earnings results on Friday, July 28th. The utilities provider reported ($0.61) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm posted $0.06 EPS. The company’s quarterly revenue was up 79.0% compared to the same quarter last year. On average, equities analysts forecast that Calpine Corporation will post $0.43 earnings per share for the current fiscal year.
In related news, Director Jack A. Fusco sold 949,525 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $14.72, for a total value of $13,977,008.00. Following the completion of the transaction, the director now owns 344,835 shares of the company’s stock, valued at approximately $5,075,971.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack A. Fusco sold 348,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $14.73, for a total transaction of $5,127,513.00. Following the completion of the transaction, the director now directly owns 344,835 shares of the company’s stock, valued at approximately $5,079,419.55. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Phocas Financial Corp. boosted its stake in Calpine Corporation by 4.7% in the 2nd quarter. Phocas Financial Corp. now owns 421,403 shares of the utilities provider’s stock worth $5,702,000 after purchasing an additional 18,795 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Calpine Corporation in the 2nd quarter worth approximately $431,000. Valueworks LLC boosted its stake in Calpine Corporation by 21.7% in the 2nd quarter. Valueworks LLC now owns 415,819 shares of the utilities provider’s stock worth $5,626,000 after purchasing an additional 74,019 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Calpine Corporation by 725.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 226,925 shares of the utilities provider’s stock worth $3,070,000 after purchasing an additional 199,425 shares during the period. Finally, BlueCrest Capital Management Ltd boosted its stake in Calpine Corporation by 162.3% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 202,653 shares of the utilities provider’s stock worth $2,742,000 after purchasing an additional 125,389 shares during the period. 96.87% of the stock is owned by hedge funds and other institutional investors.
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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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