Calpine Corporation (CPN) Rating Lowered to Sector Perform at Royal Bank Of Canada

Calpine Corporation (NYSE:CPN) was downgraded by Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a note issued to investors on Monday. They presently have a $15.25 price target on the utilities provider’s stock, up from their previous price target of $15.00. Royal Bank Of Canada’s price target indicates a potential upside of 3.18% from the stock’s previous close.

A number of other brokerages have also weighed in on CPN. Guggenheim lowered Calpine Corporation from a “buy” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $15.25 in a research note on Monday. 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, July 28th. BidaskClub upgraded Calpine Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. ValuEngine upgraded Calpine Corporation from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Zacks Investment Research upgraded Calpine Corporation from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Monday, June 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $14.86.

Calpine Corporation (NYSE:CPN) opened at 14.78 on Monday. The company has a 50-day moving average of $13.94 and a 200-day moving average of $12.29. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 111.13 and a beta of 1.02. Calpine Corporation has a 12 month low of $9.30 and a 12 month high of $14.94.

Calpine Corporation (NYSE:CPN) last announced 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. Calpine Corporation had a net margin of 0.57% and a negative return on equity of 8.92%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $0.06 earnings per share. The business’s quarterly revenue was up 79.0% compared to the same quarter last year. Analysts predict that Calpine Corporation will post $0.49 EPS for the current year.

Several institutional investors have recently bought and sold shares of CPN. PNC Financial Services Group Inc. raised its position in Calpine Corporation by 47.2% in the second quarter. PNC Financial Services Group Inc. now owns 7,618 shares of the utilities provider’s stock valued at $102,000 after buying an additional 2,443 shares during the last quarter. Nordea Investment Management AB raised 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 last quarter. Hourglass Capital LLC bought a new position in Calpine Corporation during the second quarter valued at about $135,000. Advisors Asset Management Inc. raised 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 last quarter. Finally, 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 last quarter. Institutional investors own 90.16% of the company’s stock.

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.