Calpine Corporation (CPN) Shares Bought by First Trust Advisors LP

First Trust Advisors LP boosted its stake in Calpine Corporation (NYSE:CPN) by 49.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,962,179 shares of the utilities provider’s stock after buying an additional 1,644,994 shares during the period. First Trust Advisors LP owned 1.38% of Calpine Corporation worth $67,138,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPN. 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 in 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 in 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 in 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 in 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 in the last quarter. Institutional investors and hedge funds own 92.71% of the company’s stock.

Calpine Corporation (CPN) opened at 13.81 on Friday. Calpine Corporation has a 12-month low of $9.30 and a 12-month high of $14.76. The company has a 50-day moving average price of $13.86 and a 200-day moving average price of $12.18. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 103.83 and a beta of 1.02.

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. 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 during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. The firm’s revenue for the quarter was up 79.0% on a year-over-year basis. On average, equities research analysts forecast that Calpine Corporation will post $0.53 earnings per share for the current year.

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Several research analysts have recently commented on CPN shares. Deutsche Bank AG set a $14.00 price target on Calpine Corporation and gave the stock a “buy” rating in a research report on Thursday, May 11th. Royal Bank Of Canada set a $13.00 price target on Calpine Corporation and gave the stock a “buy” rating in a research report on Saturday, June 3rd. Citigroup Inc. set a $15.00 price target on Calpine Corporation and gave the stock a “buy” rating in a research report on Thursday, May 11th. Zacks Investment Research lowered Calpine Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, Goldman Sachs Group, Inc. (The) lowered their price target 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. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $14.80.

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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Institutional Ownership by Quarter for Calpine Corporation (NYSE:CPN)

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