An issue of Calpine Co. (NYSE:CPN) debt fell 1.2% against its face value during trading on Wednesday. The high-yield issue of debt has a 5.25% coupon and is set to mature on June 1, 2026. The bonds in the issue are now trading at $97.75 and were trading at $99.75 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its share price.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Calpine from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Tuesday. SunTrust Banks reaffirmed a “hold” rating and issued a $15.00 target price on shares of Calpine in a research note on Friday, November 17th. Citigroup lowered shares of Calpine from a “buy” rating to a “neutral” rating and upped their target price for the stock from $15.00 to $15.25 in a research note on Friday, September 8th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $15.25 target price on shares of Calpine in a research note on Monday, October 30th. Finally, Macquarie lowered shares of Calpine from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 31st. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $15.08.

Calpine Co. (NYSE:CPN) traded down $0.02 during trading on Wednesday, hitting $15.07. 5,657,131 shares of the stock were exchanged, compared to its average volume of 6,042,834. Calpine Co. has a one year low of $9.30 and a one year high of $15.15. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.33 and a quick ratio of 1.10.

In other news, CEO Thad Hill sold 38,304 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $15.08, for a total transaction of $577,624.32. Following the completion of the transaction, the chief executive officer now directly owns 559,237 shares in the company, valued at approximately $8,433,293.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP W. Thaddeus Miller sold 177,627 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $15.12, for a total transaction of $2,685,720.24. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of CPN. PNC Financial Services Group Inc. boosted its stake in shares of Calpine by 47.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,618 shares of the utilities provider’s stock worth $102,000 after buying an additional 2,443 shares during the last quarter. Virtu KCG Holdings LLC boosted its stake in shares of Calpine by 1.6% during the 2nd quarter. Virtu KCG Holdings LLC now owns 10,636 shares of the utilities provider’s stock worth $144,000 after buying an additional 167 shares during the last quarter. Wedbush Securities Inc. acquired a new position in shares of Calpine during the 2nd quarter worth about $145,000. Bfsg LLC acquired a new position in shares of Calpine during the 2nd quarter worth about $161,000. Finally, Gotham Asset Management LLC acquired a new position in shares of Calpine during the 2nd quarter worth about $162,000. Institutional investors own 85.85% of the company’s stock.

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Calpine 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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