Calpine Corporation (CPN) Earns Hold Rating from Royal Bank Of Canada
Calpine Corporation (NYSE:CPN)‘s stock had its “hold” rating reiterated by research analysts at Royal Bank Of Canada in a research report issued on Monday. They presently have a $15.25 price objective on the utilities provider’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 2.14% from the stock’s current price.
A number of other equities analysts have also recently commented on the company. Zacks Investment Research cut Calpine Corporation from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. Citigroup Inc. cut Calpine Corporation from a “buy” rating to a “neutral” rating and raised their target price for the stock from $15.00 to $15.25 in a report on Friday, September 8th. Macquarie cut Calpine Corporation from an “outperform” rating to a “neutral” rating in a report on Thursday, August 31st. Guggenheim lowered Calpine Corporation from a “buy” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $15.25 in a research note on Monday, August 21st. Finally, BidaskClub lowered Calpine Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $15.08.
Shares of Calpine Corporation (NYSE:CPN) traded up 0.13% during trading on Monday, hitting $14.93. The stock had a trading volume of 3,214,926 shares. The stock’s 50-day moving average price is $14.79 and its 200 day moving average price is $13.57. The firm has a market capitalization of $5.38 billion, a P/E ratio of 112.26 and a beta of 1.02. Calpine Corporation has a 1-year low of $9.30 and a 1-year high of $14.95.
Calpine Corporation (NYSE:CPN) last announced its earnings results on Friday, July 28th. The utilities provider reported ($0.61) EPS 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 company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the business posted $0.06 earnings per share. Calpine Corporation’s revenue for the quarter was up 79.0% compared to the same quarter last year. On average, analysts anticipate that Calpine Corporation will post $0.24 earnings per share for the current year.
In other news, Director Jack A. Fusco sold 348,100 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $14.73, for a total transaction of $5,127,513.00. Following the completion of the transaction, the director now owns 344,835 shares in the company, valued at $5,079,419.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jack A. Fusco sold 949,525 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $14.72, for a total value of $13,977,008.00. Following the transaction, the director now owns 344,835 shares of the company’s stock, valued at approximately $5,075,971.20. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. grew 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 acquiring an additional 2,443 shares in the last quarter. Hourglass Capital LLC purchased a new position in Calpine Corporation in the second quarter worth about $135,000. Virtu KCG Holdings LLC grew its position 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 worth $144,000 after acquiring an additional 167 shares in the last quarter. Wedbush Securities Inc. purchased a new position in Calpine Corporation in the second quarter worth about $145,000. Finally, Bfsg LLC purchased a new position in Calpine Corporation in the second quarter worth about $161,000. Hedge funds and other institutional investors own 97.95% 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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