Calpine Corporation (CPN) Reaches New 12-Month High at $14.55

Calpine Corporation (NYSE:CPN)’s share price reached a new 52-week high on Friday . The company traded as high as $14.55 and last traded at $14.53, with a volume of 3,919,713 shares trading hands. The stock had previously closed at $14.23.

A number of equities research analysts have commented on CPN shares. Deutsche Bank AG decreased their price objective on Calpine Corporation from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, April 11th. Zacks Investment Research lowered Calpine Corporation from a “hold” rating to a “strong sell” rating in a research report on Monday, April 17th. BMO Capital Markets restated a “buy” rating and set a $14.00 price objective on shares of Calpine Corporation in a research report on Friday, April 28th. Goldman Sachs Group, Inc. (The) decreased their price objective on Calpine Corporation from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, May 2nd. Finally, Citigroup Inc. set a $15.00 price objective on Calpine Corporation and gave the stock a “buy” rating in a research report on Thursday, May 11th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.60.

The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 22.090 and a beta of 1.01. The stock’s 50 day moving average is $13.62 and its 200 day moving average is $12.02.

Calpine Corporation (NYSE:CPN) last announced its quarterly earnings results on Friday, July 28th. The utilities provider reported ($0.61) earnings per share (EPS) for the quarter, missing the 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 negative return on equity of 1.59% and a net margin of 3.17%. The firm’s revenue was up 79.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 earnings per share. Equities research analysts anticipate that Calpine Corporation will post $0.53 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of CPN. Comerica Bank purchased a new position in Calpine Corporation during the fourth quarter valued at $269,000. Renaissance Technologies LLC boosted its position in Calpine Corporation by 55.3% in the fourth quarter. Renaissance Technologies LLC now owns 45,200 shares of the utilities provider’s stock valued at $517,000 after buying an additional 16,100 shares in the last quarter. GSA Capital Partners LLP boosted its position in Calpine Corporation by 21.2% in the fourth quarter. GSA Capital Partners LLP now owns 15,905 shares of the utilities provider’s stock valued at $182,000 after buying an additional 2,785 shares in the last quarter. Two Sigma Investments LP boosted its position in Calpine Corporation by 130.1% in the fourth quarter. Two Sigma Investments LP now owns 14,811 shares of the utilities provider’s stock valued at $169,000 after buying an additional 64,011 shares in the last quarter. Finally, Brookfield Asset Management Inc. boosted its position in Calpine Corporation by 12.5% in the fourth quarter. Brookfield Asset Management Inc. now owns 450,000 shares of the utilities provider’s stock valued at $5,144,000 after buying an additional 50,000 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

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.