Calpine Corporation (CPN) Posts Earnings Results

Calpine Corporation (NYSE:CPN) released its earnings results on Friday, July 28th. The utilities provider reported ($0.61) earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the business earned $0.06 earnings per share. The company’s revenue for the quarter was up 79.0% compared to the same quarter last year.

Shares of Calpine Corporation (NYSE CPN) opened at 13.92 on Thursday. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 104.66 and a beta of 1.02. The firm has a 50-day moving average price of $13.87 and a 200-day moving average price of $12.23. Calpine Corporation has a 12 month low of $9.30 and a 12 month high of $14.76.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. World Asset Management Inc raised its position in 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 raised its position 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 valued at $144,000 after buying an additional 167 shares during the period. Comerica Bank raised its position in Calpine Corporation by 1.0% in the second quarter. Comerica Bank now owns 22,694 shares of the utilities provider’s stock valued at $312,000 after buying an additional 230 shares during the period. TD Asset Management Inc. raised its position 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 valued at $614,000 after buying an additional 300 shares during the period. Finally, M&T Bank Corp raised its position 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 valued at $253,000 after buying an additional 334 shares during the period. 90.16% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have weighed in on the stock. Royal Bank Of Canada set a $13.00 target price on shares of Calpine Corporation and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Zacks Investment Research lowered shares of Calpine Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Morgan Stanley reissued an “equal weight” rating on shares of Calpine Corporation in a research note on Monday, July 10th. ValuEngine lowered shares of Calpine Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Calpine Corporation from a “buy” rating to a “neutral” rating in a research report on Monday, July 10th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $14.80.

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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.