Calpine Corporation (CPN) Announces Earnings Results

Calpine Corporation (NYSE:CPN) posted 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, MarketWatch Earnings reports. Calpine Corporation had a negative return on equity of 8.92% and a net margin of 0.57%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business earned $0.06 earnings per share. Calpine Corporation’s revenue was up 79.0% compared to the same quarter last year.

Calpine Corporation (NYSE CPN) opened at 13.92 on Thursday. Calpine Corporation has a 1-year low of $9.30 and a 1-year high of $14.76. The stock has a market cap of $5.02 billion, a PE ratio of 104.66 and a beta of 1.02. The stock has a 50 day moving average price of $13.87 and a 200-day moving average price of $12.23.

Several equities analysts recently issued reports on the company. BidaskClub lowered Calpine Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. BMO Capital Markets raised their price target on Calpine Corporation from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. ValuEngine upgraded Calpine Corporation from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Royal Bank Of Canada restated a “buy” rating and set a $15.00 price target on shares of Calpine Corporation in a research report on Monday, July 24th. Finally, Zacks Investment Research lowered Calpine Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $14.80.

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A number of large investors have recently bought and sold shares of CPN. PNC Financial Services Group Inc. boosted its stake in Calpine Corporation by 47.2% in the second quarter. PNC Financial Services Group Inc. now owns 7,618 shares of the utilities provider’s stock valued at $102,000 after buying an additional 2,443 shares during the last quarter. Nordea Investment Management AB boosted its stake 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 valued at $110,000 after buying an additional 4,565 shares during the last quarter. Advisors Asset Management Inc. boosted its stake 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 valued at $112,000 after buying an additional 1,732 shares during the last quarter. BB&T Securities LLC purchased a new stake in Calpine Corporation during the first quarter valued at about $134,000. Finally, Hourglass Capital LLC purchased a new stake in Calpine Corporation during the second quarter valued at about $135,000. Institutional investors own 90.16% 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.