Bank of America Corp. downgraded shares of Calpine Corp. (NYSE:CPN) from a buy rating to a neutral rating in a research note issued to investors on Tuesday.

CPN has been the subject of a number of other research reports. Zacks Investment Research cut shares of Calpine Corp. from a hold rating to a sell rating in a report on Tuesday, October 11th. SunTrust Banks Inc. cut 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 note on Wednesday, August 24th. Deutsche Bank AG reaffirmed a buy rating and issued a $19.00 price target (up previously from $17.00) on shares of Calpine Corp. in a research note on Monday, October 31st. Finally, BMO Capital Markets cut 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 note on Monday, August 1st. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Calpine Corp. currently has a consensus rating of Buy and a consensus target price of $18.56.

Calpine Corp. (NYSE:CPN) opened at 11.42 on Tuesday. Calpine Corp. has a 1-year low of $10.81 and a 1-year high of $16.49. The company has a 50-day moving average of $12.07 and a 200-day moving average of $13.42. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of 228.40 and a beta of 0.99.

Calpine Corp. (NYSE:CPN) last issued its quarterly earnings data on Friday, October 28th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.24. The firm earned $2.36 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Calpine Corp. had a net margin of 0.32% and a return on equity of 5.53%. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 earnings per share. On average, equities analysts predict that Calpine Corp. will post $0.31 earnings per share for the current year.

In related news, Director W Benjamin Moreland acquired 50,000 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The shares were purchased at an average cost of $11.08 per share, for a total transaction of $554,000.00. Following the completion of the acquisition, the director now directly owns 101,273 shares in the company, valued at $1,122,104.84. The purchase was disclosed in a filing with the SEC, which is available at this link. 1.30% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Sound Shore Management Inc. CT bought a new position in Calpine Corp. during the second quarter valued at approximately $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 valued at $72,974,000 after buying an additional 4,859,800 shares during the period. Point72 Asset Management L.P. acquired a new position in Calpine Corp. during the second quarter valued at approximately $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 valued at $134,266,000 after buying an additional 3,364,508 shares during the period. 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 valued at $182,999,000 after buying an additional 2,945,144 shares during the period. Hedge funds and other institutional investors own 91.07% of the company’s stock.

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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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