Shares of Calpine Corporation (NYSE:CPN) reached a new 52-week high during trading on Friday . The stock traded as high as $14.55 and last traded at $14.53, with a volume of 3,919,713 shares trading hands. The stock had previously closed at $14.23.
Several analysts have commented on the company. BMO Capital Markets restated a “buy” rating and issued a $14.00 price target on shares of Calpine Corporation in a report on Friday, July 28th. BidaskClub raised Calpine Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. ValuEngine raised Calpine Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. 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 research note on Monday, June 26th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Calpine Corporation in a research note on Monday, July 24th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $14.80.
The firm has a market cap of $5.02 billion, a P/E ratio of 104.59 and a beta of 1.02. The stock’s 50-day moving average price is $13.86 and its 200 day moving average price is $12.21.
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. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.15 billion. Calpine Corporation had a negative return on equity of 8.92% and a net margin of 0.57%. The firm’s quarterly revenue was up 79.0% on a year-over-year basis. During the same quarter last year, the company posted $0.06 earnings per share. On average, equities research analysts anticipate that Calpine Corporation will post $0.53 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. World Asset Management Inc increased its position in shares of Calpine Corporation by 0.5% in the first quarter. World Asset Management Inc now owns 18,500 shares of the utilities provider’s stock valued at $204,000 after buying an additional 87 shares during the period. Virtu KCG Holdings LLC increased its stake in Calpine Corporation by 1.6% in the second quarter. Virtu KCG Holdings LLC now owns 10,636 shares of the utilities provider’s stock worth $144,000 after buying an additional 167 shares during the last quarter. Comerica Bank increased its stake in Calpine Corporation by 1.0% in the second quarter. Comerica Bank now owns 22,694 shares of the utilities provider’s stock worth $312,000 after buying an additional 230 shares during the last quarter. TD Asset Management Inc. increased its stake in Calpine Corporation by 0.5% in the first quarter. TD Asset Management Inc. now owns 55,535 shares of the utilities provider’s stock worth $614,000 after buying an additional 300 shares during the last quarter. Finally, M&T Bank Corp increased its stake in Calpine Corporation by 1.8% in the second quarter. M&T Bank Corp now owns 18,748 shares of the utilities provider’s stock worth $253,000 after buying an additional 334 shares during the last quarter. Institutional investors own 90.16% 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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