Calpine Corporation (CPN) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Calpine Corporation (NYSE:CPN) have been assigned an average recommendation of “Hold” from the fourteen brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $14.96.
A number of equities analysts recently issued reports on CPN shares. Royal Bank Of Canada restated a “buy” rating and issued a $15.00 target price on shares of Calpine Corporation in a research note on Monday, July 24th. Macquarie lowered Calpine Corporation from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 31st. Morgan Stanley set a $11.00 target price on Calpine Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 11th. BidaskClub lowered Calpine Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Finally, Citigroup Inc. set a $15.00 target price on Calpine Corporation and gave the stock a “buy” rating in a research note on Thursday, July 6th.
Calpine Corporation (CPN) traded down 0.07% during mid-day trading on Friday, reaching $14.86. The company had a trading volume of 2,419,740 shares. Calpine Corporation has a 52 week low of $9.30 and a 52 week high of $14.94. The stock’s 50-day moving average price is $14.72 and its 200 day moving average price is $13.06. The firm has a market capitalization of $5.36 billion, a PE ratio of 111.73 and a beta of 1.02.
Calpine Corporation (NYSE:CPN) last issued its earnings results on Friday, July 28th. The utilities provider reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.63). The firm had revenue of $2.08 billion during 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 business’s revenue was up 79.0% on a year-over-year basis. During the same quarter last year, the business earned $0.06 EPS. On average, equities research analysts predict that Calpine Corporation will post $0.43 EPS for the current year.
In other Calpine Corporation news, Director Jack A. Fusco sold 949,525 shares of Calpine Corporation stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $14.72, for a total transaction of $13,977,008.00. Following the completion of the transaction, the director now owns 344,835 shares in the company, valued at approximately $5,075,971.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack A. Fusco sold 348,100 shares of Calpine Corporation 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 transaction, the director now 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.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPN. Comerica Bank raised its stake in shares of Calpine Corporation by 1.9% during the 1st quarter. Comerica Bank now owns 22,464 shares of the utilities provider’s stock valued at $216,000 after buying an additional 422 shares during the last quarter. World Asset Management Inc grew its position in shares of Calpine Corporation by 0.5% during the 1st quarter. World Asset Management Inc now owns 18,500 shares of the utilities provider’s stock valued at $204,000 after acquiring an additional 87 shares during the period. UBS Asset Management Americas Inc. grew its position in shares of Calpine Corporation by 7.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,074,647 shares of the utilities provider’s stock valued at $11,875,000 after acquiring an additional 74,955 shares during the period. TD Asset Management Inc. grew its position in shares of Calpine Corporation by 0.5% during the 1st quarter. TD Asset Management Inc. now owns 55,535 shares of the utilities provider’s stock valued at $614,000 after acquiring an additional 300 shares during the period. Finally, Oxford Asset Management acquired a new stake in shares of Calpine Corporation during the 1st quarter valued at about $276,000. Institutional investors and hedge funds own 96.87% 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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