According to Zacks, “CALPINE CORPORATION is helping meet the needs of an economy that demands more and cleaner sources of electricity. Calpine is a major U.S. power company, capable of delivering nearly 24,000 megawatts of clean, cost-effective, reliable and fuel-efficient electricity to customers and communities in 18 states in the U.S. The company owns, leases and operates low-carbon, natural gas-fired and renewable geothermal power plants. Using advanced technologies, Calpine generates electricity in a reliable and environmentally responsible manner for the customers and communities it serves. “
A number of other equities research analysts have also recently commented on the stock. Deutsche Bank AG raised shares of Calpine Corp. from a hold rating to a buy rating and increased their price objective for the company from $18.00 to $20.00 in a research note on Tuesday, July 26th. They noted that the move was a valuation call. SunTrust Banks Inc. decreased their price target on shares of Calpine Corp. from $14.00 to $13.00 and set a neutral rating on the stock in a research note on Wednesday, August 24th. Finally, BMO Capital Markets reaffirmed a buy rating on shares of Calpine Corp. in a research note on Wednesday, June 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of $18.75.
Shares of Calpine Corp. (NYSE:CPN) opened at 13.02 on Tuesday. Calpine Corp. has a 52 week low of $11.53 and a 52 week high of $16.59. The company’s 50-day moving average is $12.99 and its 200 day moving average is $14.07. The stock’s market capitalization is $4.68 billion.
Calpine Corp. (NYSE:CPN) last issued its quarterly earnings data on Friday, July 29th. The company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.06. The business earned $1.16 billion during the quarter, compared to analyst estimates of $1.29 billion. Calpine Corp. had a negative net margin of 0.02% and a positive return on equity of 10.79%. Calpine Corp.’s revenue was down 19.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. On average, equities analysts forecast that Calpine Corp. will post $0.44 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in CPN. Creative Planning boosted its stake in Calpine Corp. by 15.5% in the third quarter. Creative Planning now owns 50,027 shares of the company’s stock valued at $632,000 after buying an additional 6,715 shares in the last quarter. First Mercantile Trust Co. boosted its stake in Calpine Corp. by 13.2% in the third quarter. First Mercantile Trust Co. now owns 59,797 shares of the company’s stock valued at $756,000 after buying an additional 6,955 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its stake in Calpine Corp. by 8.9% in the third quarter. Independent Portfolio Consultants Inc. now owns 8,575 shares of the company’s stock valued at $108,000 after buying an additional 700 shares in the last quarter. CI Investments Inc. bought a new stake in Calpine Corp. during the second quarter valued at about $21,302,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in Calpine Corp. by 7.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,026,900 shares of the company’s stock valued at $15,147,000 after buying an additional 67,676 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.
Calpine Corp. 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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