Creative Planning cut its stake in Calpine Corporation (NYSE:CPN) by 15.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,687 shares of the utilities provider’s stock after selling 9,000 shares during the period. Creative Planning’s holdings in Calpine Corporation were worth $659,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of Calpine Corporation during the fourth quarter valued at $1,497,000. Comerica Bank acquired a new stake in shares of Calpine Corporation during the fourth quarter valued at $269,000. Renaissance Technologies LLC increased its stake in shares of Calpine Corporation by 55.3% in the fourth quarter. Renaissance Technologies LLC now owns 45,200 shares of the utilities provider’s stock valued at $517,000 after buying an additional 16,100 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of Calpine Corporation by 21.2% in the fourth quarter. GSA Capital Partners LLP now owns 15,905 shares of the utilities provider’s stock valued at $182,000 after buying an additional 2,785 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Calpine Corporation by 130.1% in the fourth quarter. Two Sigma Investments LP now owns 14,811 shares of the utilities provider’s stock valued at $169,000 after buying an additional 64,011 shares during the last quarter. Hedge funds and other institutional investors own 90.16% of the company’s stock.
Shares of Calpine Corporation (CPN) traded up 10.52% during mid-day trading on Friday, reaching $14.92. The company’s stock had a trading volume of 123,138,975 shares. Calpine Corporation has a one year low of $9.30 and a one year high of $14.93. The stock has a market cap of $5.38 billion, a P/E ratio of 112.18 and a beta of 1.02. The stock has a 50 day moving average of $13.90 and a 200-day moving average of $12.26.
Calpine Corporation (NYSE:CPN) last posted its earnings results on Friday, July 28th. The utilities provider reported ($0.61) EPS for the quarter, missing the consensus estimate of $0.02 by $0.63. The business 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 business’s quarterly revenue was up 79.0% compared to the same quarter last year. During the same period last year, the company earned $0.06 EPS. On average, equities research analysts expect that Calpine Corporation will post $0.53 EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This story was first reported by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of US & international copyright legislation. The correct version of this story can be read at https://stocknewstimes.com/2017/08/19/creative-planning-reduces-stake-in-calpine-corporation-nysecpn-updated-updated-updated.html.
Several research analysts have commented on CPN shares. BMO Capital Markets restated a “buy” rating and set a $14.00 price objective on shares of Calpine Corporation in a report on Friday, April 28th. Goldman Sachs Group, Inc. (The) reduced their price objective on Calpine Corporation from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, May 2nd. Zacks Investment Research upgraded Calpine Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Deutsche Bank AG set a $14.00 price objective on Calpine Corporation and gave the stock a “buy” rating in a report on Thursday, May 11th. Finally, Citigroup Inc. set a $15.00 price objective on Calpine Corporation and gave the stock a “buy” rating in a report on Thursday, May 11th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Calpine Corporation has an average rating of “Hold” and a consensus price target 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.
Receive News & Ratings for Calpine Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Calpine Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
