Investors Sell Calpine Corporation (CPN) on Strength (CPN)
Traders sold shares of Calpine Corporation (NYSE:CPN) on strength during trading on Wednesday. $9.85 million flowed into the stock on the tick-up and $89.76 million flowed out of the stock on the tick-down, for a money net flow of $79.91 million out of the stock. Of all equities tracked, Calpine Corporation had the 4th highest net out-flow for the day. Calpine Corporation traded up $0.01 for the day and closed at $14.83
CPN has been the subject of a number of research analyst reports. Royal Bank Of Canada reissued a “buy” rating and issued a $15.00 target price on shares of Calpine Corporation in a research note on Monday, July 24th. Macquarie cut Calpine Corporation from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 31st. Morgan Stanley set a $11.00 target price on Calpine Corporation and gave the company a “hold” rating in a research note on Tuesday, July 11th. BidaskClub cut Calpine Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Finally, Citigroup Inc. set a $15.00 target price on Calpine Corporation and gave the company a “buy” rating in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $14.97.
The firm has a 50-day moving average of $14.65 and a 200-day moving average of $13.02. The stock has a market capitalization of $5.35 billion, a P/E ratio of 111.50 and a beta of 1.02.
Calpine Corporation (NYSE:CPN) last issued its 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). Calpine Corporation had a net margin of 0.57% and a negative return on equity of 8.92%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm earned $0.06 earnings per share. The business’s quarterly revenue was up 79.0% on a year-over-year basis. Equities analysts anticipate that Calpine Corporation will post $0.43 EPS for the current fiscal year.
In related news, Director Jack A. Fusco sold 348,100 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 344,835 shares of the company’s stock, valued at approximately $5,079,419.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 value 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 $5,075,971.20. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Aviva PLC increased its position in Calpine Corporation by 18.9% in the 2nd quarter. Aviva PLC now owns 227,447 shares of the utilities provider’s stock valued at $3,077,000 after buying an additional 36,120 shares in the last quarter. FMR LLC boosted its stake in Calpine Corporation by 81.3% during the 1st quarter. FMR LLC now owns 9,346,866 shares of the utilities provider’s stock valued at $103,283,000 after purchasing an additional 4,192,693 shares during the last quarter. Janus Capital Management LLC boosted its stake in Calpine Corporation by 1,858.5% during the 1st quarter. Janus Capital Management LLC now owns 682,532 shares of the utilities provider’s stock valued at $7,542,000 after purchasing an additional 647,683 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Calpine Corporation by 83.7% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 15,800 shares of the utilities provider’s stock valued at $175,000 after purchasing an additional 7,200 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Calpine Corporation during the 2nd quarter valued at about $9,242,000. 96.87% of the stock is owned by institutional investors and hedge funds.
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About Calpine Corporation
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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