Calpine (CPN) Hits New 12-Month High at $15.16
Calpine Co. (NYSE:CPN) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $15.16 and last traded at $15.16, with a volume of 3986547 shares trading hands. The stock had previously closed at $15.13.
A number of brokerages have recently issued reports on CPN. Zacks Investment Research cut shares of Calpine from a “buy” rating to a “hold” rating in a research report on Tuesday. SunTrust Banks reaffirmed a “hold” rating and set a $15.00 price objective on shares of Calpine in a research report on Friday, November 17th. Royal Bank of Canada reaffirmed a “hold” rating and set a $15.25 price objective on shares of Calpine in a research report on Monday, October 30th. Finally, Citigroup cut shares of Calpine from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $15.00 to $15.25 in a research report on Friday, September 8th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $15.08.
The company has a market capitalization of $5,460.00, a price-to-earnings ratio of -216.29, a P/E/G ratio of 2.91 and a beta of 1.05. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.33 and a quick ratio of 1.10.
Institutional investors have recently added to or reduced their stakes in the company. IndexIQ Advisors LLC acquired a new position in shares of Calpine in the third quarter valued at approximately $14,516,000. Gamco Investors INC. ET AL acquired a new stake in Calpine during the 3rd quarter valued at approximately $3,022,000. Swiss National Bank increased its position in Calpine by 5.8% during the 3rd quarter. Swiss National Bank now owns 636,500 shares of the utilities provider’s stock valued at $9,388,000 after purchasing an additional 35,100 shares during the period. Pentwater Capital Management LP acquired a new stake in Calpine during the 3rd quarter valued at approximately $122,425,000. Finally, Westchester Capital Management LLC acquired a new stake in Calpine during the 3rd quarter valued at approximately $48,353,000. 85.85% of the stock is owned by institutional investors.
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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