Calpine Corporation (CPN) Given Average Recommendation of “Hold” by Brokerages
Shares of Calpine Corporation (NYSE:CPN) have been given an average recommendation of “Hold” by the thirteen analysts that are currently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $14.71.
CPN has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $15.00 price target on shares of Calpine Corporation in a research note on Monday, July 24th. Morgan Stanley set a $11.00 price target on Calpine Corporation and gave the company a “hold” rating in a research note on Tuesday, July 11th. BidaskClub downgraded Calpine Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Zacks Investment Research downgraded Calpine Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Deutsche Bank AG set a $14.00 price target on Calpine Corporation and gave the company a “buy” rating in a research note on Thursday, May 11th.
Calpine Corporation (NYSE CPN) traded up 10.52% during trading on Friday, reaching $14.92. 123,138,975 shares of the company traded hands. The company has a market cap of $5.38 billion, a PE ratio of 112.18 and a beta of 1.02. Calpine Corporation has a 12 month low of $9.30 and a 12 month high of $14.93. The company’s 50-day moving average is $13.90 and its 200 day moving average is $12.26.
Calpine Corporation (NYSE:CPN) last posted its earnings results on Friday, July 28th. The utilities provider reported ($0.61) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.63. Calpine Corporation had a negative return on equity of 8.92% and a net margin of 0.57%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business posted $0.06 EPS. The firm’s quarterly revenue was up 79.0% compared to the same quarter last year. On average, analysts anticipate that Calpine Corporation will post $0.53 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its position in Calpine Corporation by 47.2% in the second 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 in the last quarter. Nordea Investment Management AB boosted its position in 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 in the last quarter. Advisors Asset Management Inc. boosted its position in 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 in the last quarter. BB&T Securities LLC acquired a new position in Calpine Corporation during the first quarter worth about $134,000. Finally, Hourglass Capital LLC acquired a new position in Calpine Corporation during the second quarter worth about $135,000. Hedge funds and other institutional investors own 90.16% of the company’s stock.
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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