Legal & General Group Plc reduced its stake in Calpine Corporation (NYSE:CPN) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,583,521 shares of the utilities provider’s stock after selling 54,876 shares during the period. Legal & General Group Plc owned approximately 0.44% of Calpine Corporation worth $21,425,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CPN. DnB Asset Management AS increased its stake in Calpine Corporation by 32.3% in the first quarter. DnB Asset Management AS now owns 31,551 shares of the utilities provider’s stock valued at $349,000 after buying an additional 7,700 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Calpine Corporation by 91.5% in the first quarter. Nisa Investment Advisors LLC now owns 130,411 shares of the utilities provider’s stock valued at $1,441,000 after buying an additional 62,311 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Calpine Corporation by 2.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 51,766 shares of the utilities provider’s stock valued at $572,000 after buying an additional 1,025 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of Calpine Corporation by 1.0% in the first quarter. Great West Life Assurance Co. Can now owns 236,157 shares of the utilities provider’s stock valued at $2,604,000 after buying an additional 2,274 shares during the period. Finally, Wedge Capital Management L L P NC boosted its stake in shares of Calpine Corporation by 6.7% in the first quarter. Wedge Capital Management L L P NC now owns 69,866 shares of the utilities provider’s stock valued at $772,000 after buying an additional 4,384 shares during the period. 97.16% of the stock is owned by institutional investors and hedge funds.

Shares of Calpine Corporation (NYSE CPN) opened at 14.67 on Friday. Calpine Corporation has a 12-month low of $9.30 and a 12-month high of $14.94. The firm has a market cap of $5.29 billion, a P/E ratio of 110.30 and a beta of 1.01. The firm’s 50-day moving average price is $14.23 and its 200 day moving average price is $12.49.

Calpine Corporation (NYSE:CPN) last released its earnings results on Friday, July 28th. The utilities provider reported ($0.61) earnings per share for the quarter, missing the consensus estimate of $0.02 by $0.63. Calpine Corporation had a net margin of 0.57% and a negative return on equity of 8.92%. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the company posted $0.06 EPS. The company’s quarterly revenue was up 79.0% compared to the same quarter last year. On average, equities analysts expect that Calpine Corporation will post $0.48 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This report was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this report on another publication, it was stolen and republished in violation of international copyright & trademark laws. The original version of this report can be viewed at https://www.thecerbatgem.com/2017/09/02/calpine-corporation-cpn-shares-sold-by-legal-general-group-plc.html.

Several equities research analysts have commented on CPN shares. Morgan Stanley set a $11.00 price target on shares of Calpine Corporation and gave the stock a “hold” rating in a research report on Tuesday, July 11th. Royal Bank Of Canada cut shares of Calpine Corporation from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $15.00 to $15.25 in a research report on Monday, August 21st. BidaskClub upgraded shares of Calpine Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. ValuEngine upgraded shares of Calpine Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Finally, BMO Capital Markets boosted their price target on shares of Calpine Corporation from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Calpine Corporation presently has a consensus rating of “Hold” and an average target price of $14.95.

In other Calpine Corporation news, Director Jack A. Fusco sold 949,525 shares of the stock in a transaction dated Thursday, August 24th. The stock was 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 $5,075,971.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jack A. Fusco sold 348,100 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $14.73, for a total value of $5,127,513.00. Following the completion of the transaction, the director now directly owns 344,835 shares in the company, valued at approximately $5,079,419.55. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Calpine Corporation 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.

Want to see what other hedge funds are holding CPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Calpine Corporation (NYSE:CPN).

Institutional Ownership by Quarter for Calpine Corporation (NYSE:CPN)

Receive News & Stock Ratings for Calpine Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Calpine Corporation and related stocks with our FREE daily email newsletter.