Valueworks LLC boosted its stake in shares of Calpine Corporation (NYSE:CPN) by 21.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 415,819 shares of the utilities provider’s stock after acquiring an additional 74,019 shares during the quarter. Calpine Corporation accounts for about 4.2% of Valueworks LLC’s investment portfolio, making the stock its 10th largest holding. Valueworks LLC owned approximately 0.12% of Calpine Corporation worth $5,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings in Calpine Corporation by 47.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,618 shares of the utilities provider’s stock worth $102,000 after buying an additional 2,443 shares during the period. Nordea Investment Management AB lifted its stake in shares of Calpine Corporation by 85.0% in the 1st quarter. Nordea Investment Management AB now owns 9,935 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 4,565 shares during the period. BB&T Securities LLC purchased a new position in shares of Calpine Corporation in the 1st quarter valued at approximately $134,000. Hourglass Capital LLC purchased a new position in shares of Calpine Corporation in the 2nd quarter valued at approximately $135,000. Finally, Virtu KCG Holdings LLC lifted its stake in shares of Calpine Corporation by 1.6% in the 2nd quarter. Virtu KCG Holdings LLC now owns 10,636 shares of the utilities provider’s stock valued at $144,000 after purchasing an additional 167 shares during the period. Institutional investors own 96.86% of the company’s stock.
In other Calpine Corporation news, Director Jack A. Fusco sold 949,525 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 344,835 shares in the company, valued at $5,075,971.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jack A. Fusco sold 348,100 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 344,835 shares in the company, valued at $5,079,419.55. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
WARNING: “Calpine Corporation (NYSE:CPN) is Valueworks LLC’s 10th Largest Position” was first posted by BBNS and is owned by of BBNS. If you are viewing this article on another publication, it was illegally stolen and republished in violation of US and international copyright and trademark laws. The original version of this article can be viewed at https://baseballnewssource.com/markets/calpine-corporation-cpn-position-lifted-by-valueworks-llc/1699595.html.
Calpine Corporation (CPN) traded down 0.27% on Tuesday, hitting $14.80. The stock had a trading volume of 7,827,969 shares. The stock has a market cap of $5.34 billion, a PE ratio of 111.28 and a beta of 1.02. Calpine Corporation has a 12 month low of $9.30 and a 12 month high of $14.94. The firm’s 50 day moving average price is $14.72 and its 200-day moving average price is $13.24.
Calpine Corporation (NYSE:CPN) last posted its quarterly earnings data 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 net margin of 0.57% and a negative return on equity of 8.92%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The company’s revenue for the quarter was up 79.0% compared to the same quarter last year. On average, analysts forecast that Calpine Corporation will post $0.36 EPS for the current year.
A number of research firms have recently commented on CPN. Zacks Investment Research upgraded Calpine Corporation from a “strong sell” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Friday. Morgan Stanley reaffirmed an “equal weight” rating on shares of Calpine Corporation in a report on Monday, July 10th. Guggenheim lowered Calpine Corporation from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $20.00 to $15.25 in a report on Monday, August 21st. Royal Bank Of Canada lifted their price objective on Calpine Corporation from $13.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, June 22nd. Finally, BidaskClub upgraded Calpine Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $15.08.
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.
Receive News & Ratings for Calpine Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Calpine Corporation and related companies with our FREE daily email newsletter.