Calpine Co. (NYSE:CPN) was the target of some unusual options trading activity on Monday. Stock traders purchased 32,600 put options on the stock. This is an increase of approximately 1,885% compared to the typical volume of 1,642 put options.

In related news, CEO Thad Hill sold 38,304 shares of Calpine stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $15.08, for a total value of $577,624.32. Following the completion of the sale, the chief executive officer now owns 559,237 shares of the company’s stock, valued at approximately $8,433,293.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu KCG Holdings LLC raised its holdings in Calpine by 1.6% in the 2nd quarter. Virtu KCG Holdings LLC now owns 10,636 shares of the utilities provider’s stock worth $144,000 after acquiring an additional 167 shares during the period. Comerica Bank raised its holdings in Calpine by 1.0% in the 2nd quarter. Comerica Bank now owns 22,694 shares of the utilities provider’s stock worth $312,000 after acquiring an additional 230 shares during the period. M&T Bank Corp raised its holdings in Calpine by 1.8% in the 2nd quarter. M&T Bank Corp now owns 18,748 shares of the utilities provider’s stock worth $253,000 after acquiring an additional 334 shares during the period. Utah Retirement Systems raised its holdings in Calpine by 0.9% in the 2nd quarter. Utah Retirement Systems now owns 65,779 shares of the utilities provider’s stock worth $890,000 after acquiring an additional 600 shares during the period. Finally, Morningstar Investment Services LLC raised its holdings in Calpine by 12.1% in the 2nd quarter. Morningstar Investment Services LLC now owns 15,021 shares of the utilities provider’s stock worth $203,000 after acquiring an additional 1,620 shares during the period. Hedge funds and other institutional investors own 85.98% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Calpine from a “strong sell” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Friday, October 13th. Guggenheim lowered shares of Calpine from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $15.25 in a research note on Monday, August 21st. SunTrust Banks reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Calpine in a research note on Friday, November 17th. Macquarie lowered shares of Calpine from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 31st. Finally, Citigroup lowered shares of Calpine from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $15.00 to $15.25 in a research note on Friday, September 8th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $15.08.

Calpine (NYSE CPN) opened at $15.07 on Friday. Calpine has a twelve month low of $9.30 and a twelve month high of $15.15. The company has a quick ratio of 1.10, a current ratio of 1.33 and a debt-to-equity ratio of 3.39.

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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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