Calpine Corporation (CPN) Price Target Raised to $16.00

Calpine Corporation (NYSE:CPN) had its target price boosted by BMO Capital Markets from $14.00 to $16.00 in a report released on Monday morning. BMO Capital Markets currently has an outperform rating on the utilities provider’s stock.

Other analysts have also recently issued research reports about the company. Royal Bank Of Canada set a $13.00 price objective on Calpine Corporation and gave the stock a buy rating in a report on Saturday, June 3rd. Zacks Investment Research lowered Calpine Corporation from a buy rating to a hold rating in a research note on Tuesday, June 27th. Morgan Stanley restated an equal weight rating on shares of Calpine Corporation in a research note on Monday, July 10th. ValuEngine lowered Calpine Corporation from a hold rating to a sell rating in a research note on Friday, June 2nd. Finally, Goldman Sachs Group, Inc. (The) lowered Calpine Corporation from a buy rating to a neutral rating in a research note on Monday, July 10th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Calpine Corporation presently has a consensus rating of Hold and a consensus price target of $14.80.

Calpine Corporation (NYSE:CPN) traded down 0.77% on Monday, reaching $14.20. The company’s stock had a trading volume of 2,451,103 shares. The firm has a 50 day moving average of $13.73 and a 200 day moving average of $12.07. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 106.77 and a beta of 1.02. Calpine Corporation has a 12 month low of $9.30 and a 12 month high of $14.76.

Calpine Corporation (NYSE:CPN) last issued its quarterly earnings data on Friday, July 28th. The utilities provider reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by $0.63. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Calpine Corporation had a negative return on equity of 8.92% and a net margin of 0.57%. The business’s revenue for the quarter was up 79.0% on a year-over-year basis. During the same period last year, the company posted $0.06 EPS. Analysts anticipate that Calpine Corporation will post $0.54 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC raised its position in Calpine Corporation by 10.0% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 46,778,625 shares of the utilities provider’s stock valued at $516,904,000 after buying an additional 4,260,215 shares during the last quarter. Vanguard Group Inc. raised its position in Calpine Corporation by 5.1% in the first quarter. Vanguard Group Inc. now owns 29,656,389 shares of the utilities provider’s stock valued at $327,703,000 after buying an additional 1,452,101 shares during the last quarter. BlackRock Inc. raised its position in Calpine Corporation by 3,600.9% in the first quarter. BlackRock Inc. now owns 20,292,848 shares of the utilities provider’s stock valued at $224,236,000 after buying an additional 19,744,525 shares during the last quarter. FMR LLC raised its position in Calpine Corporation by 81.3% in the first quarter. FMR LLC now owns 9,346,866 shares of the utilities provider’s stock valued at $103,283,000 after buying an additional 4,192,693 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Calpine Corporation by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 8,106,991 shares of the utilities provider’s stock valued at $89,573,000 after buying an additional 481,749 shares during the last quarter. Institutional investors and hedge funds own 93.17% of the company’s stock.

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.