Calpine Corporation (NYSE:CPN)’s share price hit 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 changing hands. The stock had previously closed at $14.23.
CPN has been the topic of a number of research reports. Zacks Investment Research raised Calpine Corporation from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Monday, June 26th. Royal Bank Of Canada set a $13.00 price objective on Calpine Corporation and gave the company a “buy” rating in a report on Saturday, June 3rd. Deutsche Bank AG decreased their price target on Calpine Corporation from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, April 11th. Goldman Sachs Group, Inc. (The) decreased their price target on Calpine Corporation from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, May 2nd. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $14.00 price target on shares of Calpine Corporation in a research note on Friday, April 28th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $14.80.
The firm has a market cap of $5.11 billion, a PE ratio of 106.62 and a beta of 1.02. The firm has a 50 day moving average price of $13.73 and a 200 day moving average price of $12.07.
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. Calpine Corporation had a net margin of 0.57% and a negative return on equity of 8.92%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company earned $0.06 earnings per share. The company’s revenue for the quarter was up 79.0% on a year-over-year basis. Equities research analysts anticipate that Calpine Corporation will post $0.54 earnings per share for the current year.
Large investors have recently modified their holdings of the company. Nordea Investment Management AB increased 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 valued at $110,000 after buying an additional 4,565 shares during the last quarter. Hourglass Capital LLC acquired a new stake in shares of Calpine Corporation during the second quarter valued at $135,000. Advisors Asset Management Inc. increased 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 valued at $112,000 after buying an additional 1,732 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in shares of Calpine Corporation during the second quarter valued at $145,000. Finally, BB&T Securities LLC acquired a new stake in shares of Calpine Corporation during the first quarter valued at $134,000. Hedge funds and other institutional investors own 92.71% of the company’s stock.
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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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