Wells Fargo & Company MN Cuts Stake in Calpine Co. (NYSE:CPN)

Wells Fargo & Company MN trimmed its position in shares of Calpine Co. (NYSE:CPN) by 62.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 267,741 shares of the utilities provider’s stock after selling 448,661 shares during the quarter. Wells Fargo & Company MN owned 0.07% of Calpine worth $3,949,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CPN. Schwab Charles Investment Management Inc. raised its position in shares of Calpine by 15.2% during 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 purchasing an additional 195,975 shares during the period. Comerica Bank raised its position in shares of Calpine by 1.0% during the second quarter. Comerica Bank now owns 22,694 shares of the utilities provider’s stock worth $312,000 after purchasing an additional 230 shares during the period. Utah Retirement Systems raised its position in shares of Calpine by 0.9% during the second quarter. Utah Retirement Systems now owns 65,779 shares of the utilities provider’s stock worth $890,000 after purchasing an additional 600 shares during the period. Principal Financial Group Inc. grew its holdings in Calpine by 15.8% during the second quarter. Principal Financial Group Inc. now owns 50,423 shares of the utilities provider’s stock worth $682,000 after buying an additional 6,869 shares in the last quarter. Finally, Commonwealth Bank of Australia grew its holdings in Calpine by 20.0% during the second quarter. Commonwealth Bank of Australia now owns 110,622 shares of the utilities provider’s stock worth $1,496,000 after buying an additional 18,400 shares in the last quarter. 85.86% of the stock is currently owned by institutional investors.

Shares of Calpine Co. (NYSE:CPN) opened at $15.07 on Monday. The stock has a market capitalization of $5,433.77, a price-to-earnings ratio of -215.25, a P/E/G ratio of 2.88 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 1.10 and a debt-to-equity ratio of 3.39. Calpine Co. has a 1-year low of $9.30 and a 1-year high of $15.16.

Calpine (NYSE:CPN) last announced its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Calpine had a negative return on equity of 7.68% and a negative net margin of 0.27%. analysts forecast that Calpine Co. will post 0.43 EPS for the current fiscal year.

Several equities research analysts recently issued reports on CPN shares. Royal Bank of Canada reiterated a “hold” rating and set a $15.25 price target on shares of Calpine in a report on Monday, October 30th. SunTrust Banks reiterated a “hold” rating and set a $15.00 price target on shares of Calpine in a report on Friday, November 17th. Finally, Zacks Investment Research upgraded Calpine from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a report on Tuesday, December 19th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $15.08.

In other Calpine news, CEO Thad Hill sold 38,304 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $15.08, for a total value of $577,624.32. Following the completion of the transaction, the chief executive officer now owns 559,237 shares in the company, valued at approximately $8,433,293.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP W. Thaddeus Miller sold 177,627 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $15.12, for a total value of $2,685,720.24. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

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Calpine 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.

Institutional Ownership by Quarter for Calpine (NYSE:CPN)

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