KBC Group NV trimmed its holdings in shares of Calpine Corporation (NYSE:CPN) by 43.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,749 shares of the utilities provider’s stock after selling 23,385 shares during the quarter. KBC Group NV’s holdings in Calpine Corporation were worth $416,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Nordea Investment Management AB increased its position in shares of Calpine Corporation by 85.0% during the first quarter. Nordea Investment Management AB now owns 9,935 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 4,565 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Calpine Corporation by 20.7% during the first quarter. Advisors Asset Management Inc. now owns 10,106 shares of the utilities provider’s stock worth $112,000 after purchasing an additional 1,732 shares in the last quarter. BB&T Securities LLC purchased a new stake in shares of Calpine Corporation during the first quarter worth approximately $134,000. Wedbush Securities Inc. purchased a new stake in shares of Calpine Corporation during the second quarter worth approximately $145,000. Finally, Eagle Global Advisors LLC purchased a new stake in shares of Calpine Corporation during the second quarter worth approximately $172,000. 97.17% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on CPN shares. ValuEngine cut Calpine Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Royal Bank Of Canada set a $13.00 target price on Calpine Corporation and gave the company a “buy” rating in a report on Saturday, June 3rd. Zacks Investment Research upgraded Calpine Corporation from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Monday, June 26th. BidaskClub upgraded Calpine Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Citigroup Inc. set a $15.00 price target on Calpine Corporation and gave the stock a “buy” rating in a report on Thursday, July 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. Calpine Corporation has a consensus rating of “Hold” and an average price target of $14.98.
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In other Calpine Corporation news, Director Jack A. Fusco sold 949,525 shares of Calpine Corporation stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $14.72, for a total transaction of $13,977,008.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack A. Fusco sold 348,100 shares of Calpine Corporation stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $14.73, for a total transaction of $5,127,513.00. Following the sale, the director now directly owns 344,835 shares of the company’s stock, valued at approximately $5,079,419.55. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
Calpine Corporation (NYSE:CPN) opened at 14.70 on Friday. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of 110.53 and a beta of 1.01. Calpine Corporation has a 1-year low of $9.30 and a 1-year high of $14.94. The company’s 50-day moving average price is $14.40 and its 200 day moving average price is $12.66.
Calpine Corporation (NYSE:CPN) last posted its earnings results on Friday, July 28th. The utilities provider reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm posted $0.06 EPS. The business’s revenue was up 79.0% on a year-over-year basis. On average, equities analysts expect that Calpine Corporation will post $0.44 earnings per share for the current fiscal year.
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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