United Services Automobile Association raised its stake in Calpine Corporation (NYSE:CPN) by 24.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,119 shares of the utilities provider’s stock after buying an additional 5,971 shares during the period. United Services Automobile Association’s holdings in Calpine Corporation were worth $333,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Numeric Investors LLC purchased a new stake in Calpine Corporation during the fourth quarter worth $582,000. Thrivent Financial for Lutherans bought a new stake in shares of Calpine Corporation during the fourth quarter valued at $3,714,000. Barings LLC bought a new stake in shares of Calpine Corporation during the fourth quarter valued at $589,000. Two Sigma Investments LP increased its stake in shares of Calpine Corporation by 130.1% in the fourth quarter. Two Sigma Investments LP now owns 14,811 shares of the utilities provider’s stock valued at $169,000 after buying an additional 64,011 shares during the last quarter. Finally, Janus Capital Management LLC increased its stake in shares of Calpine Corporation by 3.4% in the fourth quarter. Janus Capital Management LLC now owns 34,849 shares of the utilities provider’s stock valued at $398,000 after buying an additional 1,149 shares during the last quarter. 93.28% of the stock is owned by institutional investors.
Calpine Corporation (NYSE CPN) traded down 1.37% during midday trading on Friday, hitting $13.72. The stock had a trading volume of 4,819,530 shares. The stock has a market cap of $4.95 billion, a PE ratio of 20.85 and a beta of 1.01. Calpine Corporation has a 52-week low of $9.30 and a 52-week high of $14.95. The company’s 50 day moving average price is $13.50 and its 200-day moving average price is $11.94.
Calpine Corporation (NYSE:CPN) last released its quarterly earnings results on Friday, April 28th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.15. Calpine Corporation had a negative return on equity of 1.59% and a net margin of 3.17%. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the business earned ($0.65) EPS. The business’s quarterly revenue was up 41.2% compared to the same quarter last year. Analysts forecast that Calpine Corporation will post $0.50 EPS for the current fiscal year.
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Several brokerages have weighed in on CPN. BidaskClub upgraded Calpine Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Zacks Investment Research downgraded Calpine Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. Morgan Stanley set a $11.00 target price on Calpine Corporation and gave the company a “hold” rating in a report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) downgraded Calpine Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 10th. Finally, Citigroup Inc. set a $15.00 target price on Calpine Corporation and gave the company a “buy” rating in a report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $14.60.
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.
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