World Asset Management Inc decreased its stake in Calpine Corporation (NYSE:CPN) by 2.3% during the second quarter, Holdings Channel reports. The firm owned 18,081 shares of the utilities provider’s stock after selling 419 shares during the period. World Asset Management Inc’s holdings in Calpine Corporation were worth $245,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased 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 valued at $110,000 after buying an additional 4,565 shares during the period. Advisors Asset Management Inc. increased 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 valued at $112,000 after buying an additional 1,732 shares during the period. BB&T Securities LLC purchased a new position in Calpine Corporation during the first quarter valued at about $134,000. Morningstar Investment Services LLC purchased a new position in Calpine Corporation during the first quarter valued at about $148,000. Finally, Hexavest Inc. purchased a new position in Calpine Corporation during the first quarter valued at about $152,000. 90.16% of the stock is owned by institutional investors and hedge funds.
Calpine Corporation (NYSE CPN) opened at 14.92 on Friday. The company has a 50-day moving average of $13.90 and a 200 day moving average of $12.26. The firm has a market cap of $5.38 billion, a P/E ratio of 112.18 and a beta of 1.02. Calpine Corporation has a 52 week low of $9.30 and a 52 week high of $14.93.
Calpine Corporation (NYSE:CPN) last announced 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. Calpine Corporation had a net margin of 0.57% and a negative return on equity of 8.92%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the company earned $0.06 earnings per share. The company’s revenue for the quarter was up 79.0% on a year-over-year basis. On average, equities analysts predict that Calpine Corporation will post $0.53 earnings per share for the current year.
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Several research analysts have recently issued reports on the company. Zacks Investment Research downgraded Calpine Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub downgraded Calpine Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. BMO Capital Markets reaffirmed a “buy” rating and set a $14.00 price target on shares of Calpine Corporation in a research note on Friday, July 28th. ValuEngine raised Calpine Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $15.00 price target on shares of Calpine Corporation in a research note on Monday, July 24th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus 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.
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