Calpine Corporation (NYSE:CPN) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of Calpine Corporation (NYSE:CPN) from a hold rating to a buy rating in a research report released on Wednesday morning.

A number of other research firms also recently commented on CPN. BMO Capital Markets restated a buy rating and issued a $14.00 price objective on shares of Calpine Corporation in a report on Friday, July 28th. ValuEngine upgraded Calpine Corporation from a sell rating to a hold rating in a report on Friday, July 28th. Zacks Investment Research upgraded Calpine Corporation from a hold rating to a buy rating and set a $15.00 target price on the stock in a report on Monday, June 26th. Royal Bank Of Canada reiterated a buy rating and set a $15.00 target price on shares of Calpine Corporation in a report on Monday, July 24th. Finally, Goldman Sachs Group, Inc. (The) downgraded Calpine Corporation from a buy rating to a neutral rating in a report on Monday, July 10th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Calpine Corporation has a consensus rating of Hold and a consensus target price of $14.80.

Shares of Calpine Corporation (NYSE:CPN) traded down 0.77% during trading on Wednesday, hitting $14.20. The stock had a trading volume of 2,451,103 shares. The stock’s 50-day moving average price is $13.73 and its 200-day moving average price is $12.07. The company has a market cap of $5.12 billion, a P/E ratio of 109.23 and a beta of 1.02. Calpine Corporation has a one year low of $9.30 and a one year high of $14.76.

Calpine Corporation (NYSE:CPN) last released its quarterly earnings data 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 firm had revenue of $2.08 billion during 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.06 earnings per share. On average, equities research analysts forecast that Calpine Corporation will post $0.54 EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of CPN. Nordea Investment Management AB raised its stake in shares of Calpine Corporation by 85.0% in the first quarter. Nordea Investment Management AB now owns 9,935 shares of the utilities provider’s stock worth $110,000 after buying an additional 4,565 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Calpine Corporation by 20.7% in the first quarter. Advisors Asset Management Inc. now owns 10,106 shares of the utilities provider’s stock worth $112,000 after buying an additional 1,732 shares during the period. BB&T Securities LLC acquired a new stake in shares of Calpine Corporation during the first quarter worth $134,000. Wedbush Securities Inc. acquired a new stake in shares of Calpine Corporation during the second quarter worth $145,000. Finally, Morningstar Investment Services LLC acquired a new stake in shares of Calpine Corporation during the first quarter worth $148,000. Hedge funds and other institutional investors own 93.17% 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.