Calpine Corporation (CPN) Receives $14.96 Average Price Target from Brokerages
Shares of Calpine Corporation (NYSE:CPN) have received a consensus rating of “Hold” from the fourteen analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $14.96.
A number of research analysts have issued reports on CPN shares. Royal Bank Of Canada restated a “buy” rating and issued a $15.00 price objective on shares of Calpine Corporation in a research note on Monday, July 24th. Morgan Stanley set a $11.00 price objective on Calpine Corporation and gave the company a “hold” rating in a research note on Tuesday, July 11th. BidaskClub downgraded Calpine Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Zacks Investment Research downgraded Calpine Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Macquarie downgraded Calpine Corporation from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 31st.
Calpine Corporation (NYSE CPN) traded down 0.07% during trading on Wednesday, hitting $14.69. 11,273,969 shares of the company traded hands. Calpine Corporation has a 12-month low of $9.30 and a 12-month high of $14.94. The stock has a 50-day moving average price of $14.42 and a 200-day moving average price of $12.69. The firm has a market capitalization of $5.30 billion, a P/E ratio of 110.45 and a beta of 1.01.
Calpine Corporation (NYSE:CPN) last released its quarterly earnings results on Friday, July 28th. The utilities provider reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.63). The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Calpine Corporation had a net margin of 0.57% and a negative return on equity of 8.92%. The company’s quarterly revenue was up 79.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 earnings per share. Equities analysts expect that Calpine Corporation will post $0.44 EPS for the current fiscal year.
In other news, Director Jack A. Fusco sold 949,525 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $14.72, for a total transaction of $13,977,008.00. Following the completion of the transaction, the director now owns 344,835 shares in the company, valued at approximately $5,075,971.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack A. Fusco sold 348,100 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $14.73, for a total value of $5,127,513.00. Following the transaction, the director now owns 344,835 shares of the company’s stock, valued at approximately $5,079,419.55. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of CPN. BlackRock Inc. grew its stake in shares of Calpine Corporation by 3,600.9% during the 1st quarter. BlackRock Inc. now owns 20,292,848 shares of the utilities provider’s stock worth $224,236,000 after acquiring an additional 19,744,525 shares during the period. FMR LLC boosted its stake in Calpine Corporation by 84.0% in the 2nd quarter. FMR LLC now owns 17,194,357 shares of the utilities provider’s stock worth $232,640,000 after purchasing an additional 7,847,491 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in Calpine Corporation by 10.0% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 46,778,625 shares of the utilities provider’s stock worth $516,904,000 after purchasing an additional 4,260,215 shares during the period. Janus Henderson Group PLC boosted its stake in Calpine Corporation by 6,067.9% in the 2nd quarter. Janus Henderson Group PLC now owns 2,953,618 shares of the utilities provider’s stock worth $39,962,000 after purchasing an additional 2,905,731 shares during the period. Finally, First Trust Advisors LP boosted its stake in Calpine Corporation by 49.6% in the 2nd quarter. First Trust Advisors LP now owns 4,962,179 shares of the utilities provider’s stock worth $67,138,000 after purchasing an additional 1,644,994 shares during the period. Institutional investors own 97.17% of the company’s stock.
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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.
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