Calpine Corporation (NYSE:CPN) Raised to “Hold” at ValuEngine
ValuEngine upgraded shares of Calpine Corporation (NYSE:CPN) from a sell rating to a hold rating in a research note published on Friday.
Several other brokerages have also commented on CPN. Deutsche Bank AG set a $14.00 target price on Calpine Corporation and gave the company a buy rating in a research report on Thursday, May 11th. Royal Bank Of Canada set a $13.00 target price on Calpine Corporation and gave the company a buy rating in a research report on Saturday, June 3rd. Citigroup Inc. set a $15.00 target price on Calpine Corporation and gave the company a buy rating in a research report on Thursday, May 11th. Zacks Investment Research lowered Calpine Corporation from a buy rating to a hold rating in a research report on Tuesday, June 27th. Finally, Goldman Sachs Group, Inc. (The) cut their target price on Calpine Corporation from $15.00 to $14.00 and set a buy rating on the stock in a research report on Tuesday, May 2nd. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Calpine Corporation presently has an average rating of Hold and a consensus price target of $14.80.
Calpine Corporation (CPN) opened at 14.38 on Friday. The company has a market cap of $5.19 billion, a PE ratio of 108.12 and a beta of 1.01. Calpine Corporation has a 12-month low of $9.30 and a 12-month high of $14.76. The stock’s 50 day moving average price is $13.70 and its 200 day moving average price is $12.05.
Calpine Corporation (NYSE:CPN) last announced its earnings results on Friday, July 28th. The utilities provider reported ($0.61) EPS for the quarter, missing the consensus estimate of $0.02 by $0.63. Calpine Corporation had a net margin of 0.57% and a negative return on equity of 8.92%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company earned $0.06 EPS. The firm’s revenue for the quarter was up 79.0% on a year-over-year basis. Equities research analysts anticipate that Calpine Corporation will post $0.53 EPS for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB raised its position 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 worth $110,000 after buying an additional 4,565 shares in the last quarter. Advisors Asset Management Inc. raised its position 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 worth $112,000 after buying an additional 1,732 shares in the last quarter. BB&T Securities LLC bought a new position in Calpine Corporation during the first quarter worth $134,000. Morningstar Investment Services LLC bought a new position in Calpine Corporation during the first quarter worth $148,000. Finally, Hexavest Inc. bought a new position in Calpine Corporation during the first quarter worth $152,000. Institutional investors own 93.17% of the company’s stock.
About Calpine Corporation
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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