Hourglass Capital LLC Buys New Stake in Calpine Corporation (CPN)

Hourglass Capital LLC bought a new stake in Calpine Corporation (NYSE:CPN) during the second quarter, according to its most recent disclosure with the SEC. The fund bought 10,000 shares of the utilities provider’s stock, valued at approximately $135,000.

Other large investors also recently bought and sold shares of the company. Nordea Investment Management AB increased 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 in the last quarter. Advisors Asset Management Inc. increased 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 in the last quarter. BB&T Securities LLC acquired a new stake in shares of Calpine Corporation during the first quarter worth about $134,000. Wedbush Securities Inc. acquired a new stake in shares of Calpine Corporation during the second quarter worth about $145,000. Finally, Morningstar Investment Services LLC acquired a new stake in shares of Calpine Corporation during the first quarter worth about $148,000. Hedge funds and other institutional investors own 90.16% of the company’s stock.

Calpine Corporation (CPN) traded up 10.52% on Friday, reaching $14.92. The company had a trading volume of 123,138,975 shares. Calpine Corporation has a 12-month low of $9.30 and a 12-month high of $14.93. The stock has a market capitalization of $5.38 billion, a PE ratio of 112.18 and a beta of 1.02. The stock’s 50 day moving average price is $13.90 and its 200-day moving average price is $12.26.

Calpine Corporation (NYSE:CPN) last posted its earnings results on Friday, July 28th. The utilities provider reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by $0.63. 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 the consensus estimate of $1.15 billion. During the same quarter last year, the firm earned $0.06 earnings per share. The business’s quarterly revenue was up 79.0% on a year-over-year basis. Equities analysts expect that Calpine Corporation will post $0.53 earnings per share for the current fiscal year.

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A number of equities research analysts recently issued reports on CPN shares. Royal Bank Of Canada set a $13.00 price objective on Calpine Corporation and gave the stock a “buy” rating in a research report on Saturday, June 3rd. Zacks Investment Research upgraded Calpine Corporation from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Monday, June 26th. Goldman Sachs Group, Inc. (The) lowered their price objective on Calpine Corporation from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, May 2nd. BMO Capital Markets reiterated a “buy” rating and issued a $14.00 price objective on shares of Calpine Corporation in a research report on Friday, April 28th. Finally, Citigroup Inc. set a $15.00 price objective on Calpine Corporation and gave the stock a “buy” rating in a research report on Thursday, May 11th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price 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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