Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Calpine Corporation (NYSE:CPN) by 34.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,769 shares of the utilities provider’s stock after buying an additional 18,003 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Calpine Corporation were worth $944,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its stake in Calpine Corporation by 15.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,485,288 shares of the utilities provider’s stock worth $20,096,000 after buying an additional 195,975 shares during the period. Canada Pension Plan Investment Board raised its stake in Calpine Corporation by 0.5% in the second quarter. Canada Pension Plan Investment Board now owns 1,893,215 shares of the utilities provider’s stock worth $25,615,000 after buying an additional 9,155 shares during the period. Trexquant Investment LP purchased a new stake in Calpine Corporation during the second quarter worth $241,000. Blue Sky Asset Management LLC purchased a new stake in Calpine Corporation during the second quarter worth $1,131,000. Finally, BP PLC purchased a new stake in Calpine Corporation during the second quarter worth $1,825,000. 90.16% of the stock is currently owned by institutional investors and hedge funds.
Calpine Corporation (NYSE CPN) opened at 14.92 on Monday. Calpine Corporation has a one year low of $9.30 and a one year high of $14.93. The company has a market cap of $5.38 billion, a price-to-earnings 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 released its quarterly earnings data 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. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $1.15 billion. Calpine Corporation had a net margin of 0.57% and a negative return on equity of 8.92%. The company’s quarterly revenue was up 79.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS. On average, equities analysts predict that Calpine Corporation will post $0.53 EPS for the current fiscal year.
A number of analysts recently weighed in on the stock. BidaskClub lowered shares of Calpine Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. BMO Capital Markets upped their target price on shares of Calpine Corporation from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. ValuEngine raised shares of Calpine Corporation from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $15.00 target price on shares of Calpine Corporation in a report on Monday, July 24th. Finally, Zacks Investment Research lowered shares of Calpine Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently 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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