Zacks Investment Research downgraded shares of Calpine Corp. (NYSE:CPN) from a hold rating to a sell rating in a research report report published on Tuesday.

According to Zacks, “CALPINE CORPORATION is helping meet the needs of an economy that demands more and cleaner sources of electricity. Calpine is a major U.S. power company, capable of delivering nearly 24,000 megawatts of clean, cost-effective, reliable and fuel-efficient electricity to customers and communities in 18 states in the U.S. The company owns, leases and operates low-carbon, natural gas-fired and renewable geothermal power plants. Using advanced technologies, Calpine generates electricity in a reliable and environmentally responsible manner for the customers and communities it serves. “

Other research analysts have also issued research reports about the company. Deutsche Bank AG upgraded Calpine Corp. from a hold rating to a buy rating and increased their price target for the stock from $18.00 to $20.00 in a report on Tuesday, July 26th. They noted that the move was a valuation call. BMO Capital Markets reiterated a buy rating on shares of Calpine Corp. in a report on Wednesday, June 22nd. Finally, SunTrust Banks Inc. raised their target price on Calpine Corp. from $13.00 to $14.00 in a report on Monday, August 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Calpine Corp. currently has a consensus rating of Buy and an average target price of $18.75.

Calpine Corp. (NYSE:CPN) traded down 0.23% on Tuesday, hitting $12.93. The company had a trading volume of 328,673 shares. Calpine Corp. has a one year low of $11.53 and a one year high of $16.60. The stock’s market capitalization is $4.64 billion. The stock has a 50 day moving average of $12.96 and a 200-day moving average of $14.08.

Calpine Corp. (NYSE:CPN) last announced its quarterly earnings results on Friday, July 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by $0.06. The firm earned $1.16 billion during the quarter, compared to the consensus estimate of $1.29 billion. Calpine Corp. had a positive return on equity of 10.79% and a negative net margin of 0.02%. The firm’s revenue was down 19.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 EPS. Equities analysts anticipate that Calpine Corp. will post $0.44 EPS for the current year.

Several institutional investors have recently bought and sold shares of CPN. Seven Bridges Advisors LLC bought a new position in Calpine Corp. during the second quarter worth approximately $102,000. Acrospire Investment Management LLC raised its stake in Calpine Corp. by 620.0% in the second quarter. Acrospire Investment Management LLC now owns 7,200 shares of the company’s stock valued at $106,000 after buying an additional 6,200 shares in the last quarter. Independent Portfolio Consultants Inc. raised its stake in Calpine Corp. by 8.9% in the third quarter. Independent Portfolio Consultants Inc. now owns 8,575 shares of the company’s stock valued at $108,000 after buying an additional 700 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Calpine Corp. during the second quarter valued at about $161,000. Finally, Virtu Financial LLC acquired a new stake in Calpine Corp. during the second quarter valued at about $179,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Calpine Corp. 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.

5 Day Chart for NYSE:CPN

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