Calpine Corporation (CPN) Director Jack A. Fusco Sells 949,525 Shares of Stock

Calpine Corporation (NYSE:CPN) Director Jack A. Fusco sold 949,525 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $14.72, for a total transaction of $13,977,008.00. Following the transaction, the director now owns 344,835 shares of the company’s stock, valued at approximately $5,075,971.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of Calpine Corporation (CPN) traded down 0.20% during mid-day trading on Friday, reaching $14.64. 13,023,925 shares of the company’s stock were exchanged. The firm has a market capitalization of $5.28 billion, a P/E ratio of 110.08 and a beta of 1.02. Calpine Corporation has a one year low of $9.30 and a one year high of $14.94. The stock has a 50-day moving average of $14.06 and a 200 day moving average of $12.38.

Calpine Corporation (NYSE:CPN) last announced its earnings results on Friday, July 28th. The utilities provider reported ($0.61) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 79.0% on a year-over-year basis. On average, analysts forecast that Calpine Corporation will post $0.48 EPS for the current fiscal year.

WARNING: This news story was originally posted by [[site]] and is owned by of [[site]]. If you are accessing this news story on another publication, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this news story can be read at [[permalink]].

Several research firms have issued reports on CPN. Zacks Investment Research lowered shares of Calpine Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday. Royal Bank Of Canada set a $13.00 price target on shares of Calpine Corporation and gave the stock a “buy” rating in a report on Saturday, June 3rd. BidaskClub lowered shares of Calpine Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Guggenheim lowered shares of Calpine Corporation from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $20.00 to $15.25 in a report on Monday, August 21st. Finally, ValuEngine upgraded shares of Calpine Corporation from a “sell” rating to a “hold” rating in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $14.86.

A number of hedge funds and other institutional investors have recently made changes to their positions in CPN. Renaissance Technologies LLC raised its position in shares of Calpine Corporation by 55.3% in the fourth quarter. Renaissance Technologies LLC now owns 45,200 shares of the utilities provider’s stock valued at $517,000 after buying an additional 16,100 shares in the last quarter. Gulf International Bank UK Ltd raised its position in shares of Calpine Corporation by 2.2% in the first quarter. Gulf International Bank UK Ltd now owns 106,386 shares of the utilities provider’s stock worth $1,175,000 after buying an additional 2,300 shares in the last quarter. Bank of Montreal Can raised its position in shares of Calpine Corporation by 14.9% in the first quarter. Bank of Montreal Can now owns 879,725 shares of the utilities provider’s stock worth $9,721,000 after buying an additional 113,926 shares in the last quarter. DnB Asset Management AS raised its position in shares of Calpine Corporation by 32.3% in the first quarter. DnB Asset Management AS now owns 31,551 shares of the utilities provider’s stock worth $349,000 after buying an additional 7,700 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Calpine Corporation by 91.5% in the first quarter. Nisa Investment Advisors LLC now owns 130,411 shares of the utilities provider’s stock worth $1,441,000 after buying an additional 62,311 shares in the last quarter. 90.16% of the stock is currently owned by institutional investors.

About Calpine Corporation

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.