KCG Holdings Inc. Cuts Stake in Calpine Corporation (CPN)
KCG Holdings Inc. decreased its position in Calpine Corporation (NYSE:CPN) by 28.8% during the first quarter, Holdings Channel reports. The firm owned 10,469 shares of the utilities provider’s stock after selling 4,238 shares during the period. KCG Holdings Inc.’s holdings in Calpine Corporation were worth $116,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB raised its position in shares of 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 during the period. Advisors Asset Management Inc. raised its position in shares of 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 during the period. BB&T Securities LLC bought a new position in shares of Calpine Corporation during the first quarter worth about $134,000. Morningstar Investment Services LLC bought a new position in shares of Calpine Corporation during the first quarter worth about $148,000. Finally, Hexavest Inc. bought a new position in shares of Calpine Corporation during the first quarter worth about $152,000. 92.71% of the stock is currently owned by institutional investors and hedge funds.
Calpine Corporation (NYSE CPN) traded up 0.95% during trading on Friday, reaching $13.79. The company’s stock had a trading volume of 732,630 shares. The stock has a market cap of $4.97 billion, a PE ratio of 103.68 and a beta of 1.02. Calpine Corporation has a 12 month low of $9.30 and a 12 month high of $14.76. The company’s 50-day moving average is $13.86 and its 200-day moving average is $12.16.
Calpine Corporation (NYSE:CPN) last announced its quarterly earnings data on Friday, July 28th. The utilities provider reported ($0.61) EPS for the quarter, missing the consensus estimate of $0.02 by $0.63. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $1.15 billion. Calpine Corporation had a net margin of 0.57% and a negative return on equity of 8.92%. Calpine Corporation’s revenue for the quarter was up 79.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 earnings per share. Equities analysts expect that Calpine Corporation will post $0.53 EPS for the current fiscal year.
Several equities research analysts have recently commented on CPN shares. Royal Bank Of Canada set a $13.00 target price on shares of Calpine Corporation and gave the company a “buy” rating in a research note on Saturday, June 3rd. Zacks Investment Research upgraded shares of Calpine Corporation from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Monday, June 26th. Goldman Sachs Group, Inc. (The) cut their target price on shares of Calpine Corporation from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, May 2nd. BMO Capital Markets restated a “buy” rating and set a $14.00 target price on shares of Calpine Corporation in a research report on Friday, April 28th. Finally, Citigroup Inc. set a $15.00 target price on shares of Calpine Corporation and gave the company a “buy” rating in a research report on Thursday, May 11th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $14.80.
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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