Guggenheim cut shares of Calpine Corporation (NYSE:CPN) from a buy rating to a neutral rating in a report released on Monday morning, Marketbeat Ratings reports. Guggenheim currently has $15.25 price target on the utilities provider’s stock, down from their prior price target of $20.00.
CPN has been the subject of a number of other research reports. Zacks Investment Research cut Calpine Corporation from a strong-buy rating to a hold rating in a report on Wednesday, July 12th. BidaskClub cut Calpine Corporation from a hold rating to a sell rating in a report on Wednesday, July 5th. BMO Capital Markets reiterated a buy rating and set a $14.00 price target on shares of Calpine Corporation in a report on Friday, July 28th. ValuEngine upgraded Calpine Corporation from a sell rating to a hold rating in a report on Friday, July 28th. Finally, Royal Bank Of Canada reiterated a buy rating and set a $15.00 price target on shares of Calpine Corporation in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Calpine Corporation presently has a consensus rating of Hold and an average target price of $14.86.
Calpine Corporation (CPN) opened at 14.67 on Monday. The stock has a market capitalization of $5.29 billion, a P/E ratio of 110.30 and a beta of 1.02. The stock has a 50 day moving average price of $14.02 and a 200-day moving average price of $12.35. Calpine Corporation has a 12-month low of $9.30 and a 12-month high of $14.94.
Calpine Corporation (NYSE:CPN) last posted its quarterly earnings results on Friday, July 28th. The utilities provider reported ($0.61) EPS 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 for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business posted $0.06 EPS. The company’s revenue for the quarter was up 79.0% on a year-over-year basis. Equities research analysts expect that Calpine Corporation will post $0.48 EPS for the current year.
A number of large investors have recently modified their holdings of CPN. Phocas Financial Corp. increased its stake in shares of Calpine Corporation by 4.7% in the second quarter. Phocas Financial Corp. now owns 421,403 shares of the utilities provider’s stock valued at $5,702,000 after buying an additional 18,795 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Calpine Corporation during the second quarter valued at about $431,000. Valueworks LLC increased its stake in shares of Calpine Corporation by 21.7% in the second quarter. Valueworks LLC now owns 415,819 shares of the utilities provider’s stock valued at $5,626,000 after buying an additional 74,019 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Calpine Corporation by 725.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 226,925 shares of the utilities provider’s stock valued at $3,070,000 after buying an additional 199,425 shares during the period. Finally, BlueCrest Capital Management Ltd increased its stake in shares of Calpine Corporation by 162.3% in the second quarter. BlueCrest Capital Management Ltd now owns 202,653 shares of the utilities provider’s stock valued at $2,742,000 after buying an additional 125,389 shares during the period. Hedge funds and other 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.
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