Calpine Corporation (CPN) Shares Sold by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. reduced its position in shares of Calpine Corporation (NYSE:CPN) by 19.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 124,210 shares of the utilities provider’s stock after selling 29,830 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Calpine Corporation were worth $1,680,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nordea Investment Management AB boosted its position in 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 last quarter. Advisors Asset Management Inc. boosted its position in 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 last quarter. Wedbush Securities Inc. purchased a new position in Calpine Corporation during the second quarter worth approximately $145,000. BB&T Securities LLC purchased a new position in Calpine Corporation during the first quarter worth approximately $134,000. Finally, Eagle Global Advisors LLC purchased a new position in Calpine Corporation during the second quarter worth approximately $172,000. Institutional investors own 90.16% of the company’s stock.

Calpine Corporation (NYSE CPN) opened at 13.81 on Monday. Calpine Corporation has a 52 week low of $9.30 and a 52 week high of $14.76. The stock has a market cap of $4.98 billion, a PE ratio of 103.83 and a beta of 1.02. The firm’s 50-day moving average price is $13.86 and its 200-day moving average price is $12.18.

Calpine Corporation (NYSE:CPN) last announced its earnings results 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 firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Calpine Corporation had a net margin of 0.57% and a negative return on equity of 8.92%. The firm’s revenue for the quarter was up 79.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 EPS. Equities analysts predict that Calpine Corporation will post $0.53 earnings per share for the current fiscal year.

A number of research firms have recently commented on CPN. ValuEngine upgraded Calpine Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub upgraded Calpine Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada set a $13.00 target price on Calpine Corporation and gave the company a “buy” rating in a research note on Saturday, June 3rd. BMO Capital Markets raised their target price on Calpine Corporation from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research upgraded Calpine Corporation from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Monday, June 26th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $14.80.

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.

Want to see what other hedge funds are holding CPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Calpine Corporation (NYSE:CPN).