Calpine Corp. (NYSE:CPN) has earned a consensus recommendation of “Buy” from the twelve ratings firms that are currently covering the company. Two research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $18.94.
A number of equities analysts recently weighed in on CPN shares. Zacks Investment Research downgraded shares of Calpine Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 15th. BMO Capital Markets reissued a “buy” rating on shares of Calpine Corp. in a research note on Wednesday, June 22nd. Deutsche Bank AG raised shares of Calpine Corp. from a “hold” rating to a “buy” rating and lifted their target price for the stock from $18.00 to $20.00 in a research note on Tuesday, July 26th. They noted that the move was a valuation call. Finally, SunTrust Banks Inc. lowered their target price on shares of Calpine Corp. from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, August 24th.
Calpine Corp. (NYSE:CPN) opened at 12.55 on Thursday. The firm’s market capitalization is $4.51 billion. The stock’s 50 day moving average is $12.92 and its 200-day moving average is $14.10. Calpine Corp. has a 1-year low of $11.53 and a 1-year high of $16.60.
Calpine Corp. (NYSE:CPN) last issued its quarterly earnings results on Friday, July 29th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.06. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.29 billion. Calpine Corp. had a positive return on equity of 10.79% and a negative net margin of 0.02%. Calpine Corp.’s revenue for the quarter was down 19.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 EPS. Analysts forecast that Calpine Corp. will post $0.44 EPS for the current year.
In other news, Director Jack A. Fusco sold 54,600 shares of the business’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $15.00, for a total transaction of $819,000.00. Following the completion of the sale, the director now directly owns 684,525 shares of the company’s stock, valued at $10,267,875. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jack A. Fusco sold 24,800 shares of the business’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $14.75, for a total transaction of $365,800.00. Following the sale, the director now directly owns 722,825 shares of the company’s stock, valued at $10,661,668.75. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Goldentree Asset Management LP increased its stake in Calpine Corp. by 14.9% in the first quarter. Goldentree Asset Management LP now owns 5,715,155 shares of the company’s stock valued at $86,699,000 after buying an additional 740,080 shares during the last quarter. State Street Corp increased its stake in Calpine Corp. by 2.5% in the first quarter. State Street Corp now owns 6,996,542 shares of the company’s stock valued at $106,128,000 after buying an additional 168,694 shares during the last quarter. Renaissance Technologies LLC increased its stake in Calpine Corp. by 90.3% in the first quarter. Renaissance Technologies LLC now owns 2,567,700 shares of the company’s stock valued at $38,952,000 after buying an additional 1,218,600 shares during the last quarter. Geode Capital Management LLC increased its stake in Calpine Corp. by 5.5% in the first quarter. Geode Capital Management LLC now owns 2,057,247 shares of the company’s stock valued at $31,190,000 after buying an additional 106,951 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in Calpine Corp. during the first quarter valued at approximately $207,000. 92.67% of the stock is owned by institutional investors.
About Calpine Corp.
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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