Calpine Corp. (CPN) Lowered to Sell at Zacks Investment Research
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.
Receive News & Stock Ratings for Calpine Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Calpine Corp. and related stocks with our FREE daily email newsletter.