P Schoenfeld Asset Management LP purchased a new position in shares of Calpine Corporation (NYSE:CPN) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,725,051 shares of the utilities provider’s stock, valued at approximately $40,195,000. Calpine Corporation makes up about 2.5% of P Schoenfeld Asset Management LP’s holdings, making the stock its 9th biggest holding. P Schoenfeld Asset Management LP owned approximately 0.76% of Calpine Corporation at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CPN. Virtu KCG Holdings LLC grew its holdings in Calpine Corporation by 1.6% in the second quarter. Virtu KCG Holdings LLC now owns 10,636 shares of the utilities provider’s stock valued at $144,000 after purchasing an additional 167 shares during the period. Comerica Bank grew its holdings in Calpine Corporation by 1.0% in the second quarter. Comerica Bank now owns 22,694 shares of the utilities provider’s stock valued at $312,000 after purchasing an additional 230 shares during the period. M&T Bank Corp grew its holdings in Calpine Corporation by 1.8% in the second quarter. M&T Bank Corp now owns 18,748 shares of the utilities provider’s stock valued at $253,000 after purchasing an additional 334 shares during the period. Utah Retirement Systems grew its holdings in Calpine Corporation by 0.9% in the second quarter. Utah Retirement Systems now owns 65,779 shares of the utilities provider’s stock valued at $890,000 after purchasing an additional 600 shares during the period. Finally, Morningstar Investment Services LLC grew its holdings in Calpine Corporation by 12.1% in the second quarter. Morningstar Investment Services LLC now owns 15,021 shares of the utilities provider’s stock valued at $203,000 after purchasing an additional 1,620 shares during the period. Institutional investors and hedge funds own 99.57% of the company’s stock.

Calpine Corporation (NYSE:CPN) traded down $0.02 on Monday, reaching $15.01. 4,569,300 shares of the company’s stock traded hands, compared to its average volume of 6,133,332. The company has a quick ratio of 1.10, a current ratio of 1.33 and a debt-to-equity ratio of 3.39. Calpine Corporation has a 12 month low of $9.30 and a 12 month high of $15.11.

CPN has been the subject of a number of recent analyst reports. Royal Bank Of Canada restated a “buy” rating and issued a $15.00 target price on shares of Calpine Corporation in a report on Monday, July 24th. BidaskClub upgraded shares of Calpine Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. BMO Capital Markets restated a “buy” rating and issued a $14.00 target price on shares of Calpine Corporation in a report on Friday, July 28th. Zacks Investment Research upgraded shares of Calpine Corporation from a “strong sell” rating to a “buy” rating and set a $17.00 target price for the company in a report on Friday, October 13th. Finally, ValuEngine upgraded shares of Calpine Corporation from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $15.08.

In other news, Director Jack A. Fusco sold 348,100 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $14.73, for a total transaction of $5,127,513.00. Following the transaction, the director now directly owns 344,835 shares of the company’s stock, valued at $5,079,419.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jack A. Fusco sold 949,525 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 344,835 shares in the company, valued at $5,075,971.20. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

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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.

Institutional Ownership by Quarter for Calpine Corporation (NYSE:CPN)

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