Shares of Calpine Corp. (NYSE:CPN) have earned an average rating of “Buy” from the eleven analysts that are presently covering the firm. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $18.71.

CPN has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Calpine Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 11th. SunTrust Banks Inc. lowered their price target on shares of Calpine Corp. from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 24th. Deutsche Bank AG reiterated a “buy” rating and issued a $19.00 price target (up from $17.00) on shares of Calpine Corp. in a research report on Monday, October 31st. Finally, BMO Capital Markets lowered their price target on shares of Calpine Corp. from $19.00 to $17.00 and set an “outperform” rating on the stock in a research report on Monday, August 1st.

Calpine Corp. (NYSE:CPN) opened at 11.58 on Thursday. The stock has a market cap of $4.16 billion, a PE ratio of 231.60 and a beta of 0.99. Calpine Corp. has a 52 week low of $10.81 and a 52 week high of $16.49. The firm’s 50-day moving average price is $12.30 and its 200-day moving average price is $13.58.

Calpine Corp. (NYSE:CPN) last issued its earnings results on Friday, October 28th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.24. Calpine Corp. had a net margin of 0.32% and a return on equity of 5.53%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the business posted $0.76 earnings per share. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. Equities analysts predict that Calpine Corp. will post $0.31 earnings per share for the current fiscal year.

In related news, Director W Benjamin Moreland purchased 50,000 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were bought at an average price of $11.08 per share, with a total value of $554,000.00. Following the completion of the purchase, the director now directly owns 101,273 shares in the company, valued at approximately $1,122,104.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of CPN. Sound Shore Management Inc. CT bought a new position in Calpine Corp. during the second quarter worth $146,310,000. Franklin Resources Inc. increased its position in Calpine Corp. by 5,547.7% in the second quarter. Franklin Resources Inc. now owns 4,947,400 shares of the company’s stock worth $72,974,000 after buying an additional 4,859,800 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Calpine Corp. during the second quarter worth $59,954,000. Bank of New York Mellon Corp increased its position in Calpine Corp. by 58.6% in the second quarter. Bank of New York Mellon Corp now owns 9,102,691 shares of the company’s stock worth $134,266,000 after buying an additional 3,364,508 shares in the last quarter. Finally, Carlson Capital L P increased its position in Calpine Corp. by 31.1% in the second quarter. Carlson Capital L P now owns 12,406,679 shares of the company’s stock worth $182,999,000 after buying an additional 2,945,144 shares in the last quarter. 90.51% of the stock is currently owned by institutional investors.

About Calpine Corp.

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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