Calpine Corporation (NYSE:CPN) has been assigned a consensus recommendation of “Hold” from the fourteen analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $14.96.
Several equities research analysts have commented on CPN shares. ValuEngine upgraded Calpine Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. Royal Bank Of Canada set a $13.00 price target on Calpine Corporation and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Zacks Investment Research upgraded Calpine Corporation from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Monday, June 26th. BidaskClub upgraded Calpine Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Citigroup Inc. set a $15.00 target price on Calpine Corporation and gave the company a “buy” rating in a research note on Thursday, July 6th.
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Shares of Calpine Corporation (NYSE:CPN) traded up 0.27% during trading on Wednesday, hitting $14.75. The stock had a trading volume of 5,355,088 shares. Calpine Corporation has a 12-month low of $9.30 and a 12-month high of $14.94. The stock has a 50-day moving average of $14.36 and a 200 day moving average of $12.63. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 110.90 and a beta of 1.01.
Calpine Corporation (NYSE:CPN) last announced its quarterly earnings results on Friday, July 28th. The utilities provider reported ($0.61) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.63). The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.15 billion. Calpine Corporation had a negative return on equity of 8.92% and a net margin of 0.57%. The business’s revenue was up 79.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.06 earnings per share. On average, analysts predict that Calpine Corporation will post $0.44 earnings per share for the current fiscal year.
In related news, Director Jack A. Fusco sold 949,525 shares of the stock in a transaction dated Thursday, August 24th. The stock was 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 $5,075,971.20. The sale 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 stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $14.73, for a total value 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. Corporate insiders own 1.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its holdings in Calpine Corporation by 47.2% in the second quarter. PNC Financial Services Group Inc. now owns 7,618 shares of the utilities provider’s stock valued at $102,000 after purchasing an additional 2,443 shares during the last quarter. Nordea Investment Management AB boosted its holdings 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 purchasing an additional 4,565 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Calpine Corporation by 20.7% in the first quarter. Advisors Asset Management Inc. now owns 10,106 shares of the utilities provider’s stock valued at $112,000 after purchasing an additional 1,732 shares during the last quarter. BB&T Securities LLC purchased a new position in Calpine Corporation in the first quarter valued at about $134,000. Finally, Hourglass Capital LLC purchased a new position in Calpine Corporation in the second quarter valued at about $135,000. 97.17% of the stock is owned by hedge funds and other institutional investors.
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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