Prudential Financial Inc. Has $267,000 Position in Calpine Corporation (CPN)
Prudential Financial Inc. continued to hold its position in Calpine Corporation (NYSE:CPN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,747 shares of the utilities provider’s stock at the close of the second quarter. Prudential Financial Inc.’s holdings in Calpine Corporation were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold shares of CPN. Nordea Investment Management AB grew its stake in Calpine Corporation by 85.0% in the 1st quarter. Nordea Investment Management AB now owns 9,935 shares of the utilities provider’s stock valued at $110,000 after buying an additional 4,565 shares during the last quarter. BB&T Securities LLC acquired a new position in Calpine Corporation in the 1st quarter valued at $134,000. Hourglass Capital LLC acquired a new position in Calpine Corporation in the 2nd quarter valued at $135,000. Wedbush Securities Inc. acquired a new position in Calpine Corporation in the 2nd quarter valued at $145,000. Finally, Eagle Global Advisors LLC acquired a new position in Calpine Corporation in the 2nd quarter valued at $172,000. Institutional investors and hedge funds own 96.87% of the company’s stock.
A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Calpine Corporation from a “strong sell” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Friday. Morgan Stanley reiterated an “equal weight” rating on shares of Calpine Corporation in a research note on Monday, July 10th. Guggenheim lowered shares of Calpine Corporation from a “buy” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $15.25 in a research note on Monday, August 21st. Royal Bank Of Canada raised their target price on shares of Calpine Corporation from $13.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday, June 22nd. Finally, BidaskClub upgraded shares of Calpine Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $15.08.
Shares of Calpine Corporation (NYSE CPN) opened at 14.67 on Friday. The company has a market capitalization of $5.29 billion, a P/E ratio of 110.30 and a beta of 1.02. The firm has a 50-day moving average of $14.72 and a 200-day moving average of $13.21. Calpine Corporation has a one year low of $9.30 and a one year high of $14.94.
Calpine Corporation (NYSE:CPN) last announced its earnings results on Friday, July 28th. The utilities provider reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.63). The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate 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 revenue was up 79.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 EPS. Equities research analysts expect that Calpine Corporation will post $0.36 EPS for the current fiscal year.
In other news, Director Jack A. Fusco sold 348,100 shares of the business’s 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 sale, the director now owns 344,835 shares of the company’s stock, valued at $5,079,419.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jack A. Fusco sold 949,525 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $14.72, for a total transaction of $13,977,008.00. Following the completion of the sale, the director now directly owns 344,835 shares of the company’s stock, valued at approximately $5,075,971.20. The disclosure for this sale can be found here. 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.
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