Calpine Corporation (CPN) Given “Hold” Rating at Royal Bank Of Canada

Royal Bank Of Canada reissued their hold rating on shares of Calpine Corporation (NYSE:CPN) in a research report report published on Monday, October 30th. They currently have a $15.25 price objective on the utilities provider’s stock.

Other research analysts also recently issued reports about the stock. ValuEngine raised shares of Calpine Corporation from a sell rating to a hold rating in a research report on Friday, July 28th. BidaskClub cut shares of Calpine Corporation from a buy rating to a hold rating in a research note on Thursday, August 10th. BMO Capital Markets increased their target price on shares of Calpine Corporation from $14.00 to $16.00 and gave the stock an outperform rating in a research note on Monday, July 31st. Zacks Investment Research cut shares of Calpine Corporation from a hold rating to a strong sell rating in a research note on Monday, October 2nd. Finally, Guggenheim cut shares of Calpine Corporation from a buy rating to a neutral rating and lowered their price objective for the company from $20.00 to $15.25 in a research report on Monday, August 21st. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Calpine Corporation currently has an average rating of Hold and a consensus price target of $15.08.

Calpine Corporation (NYSE CPN) opened at $15.01 on Monday. 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 Corporation has a fifty-two week low of $9.30 and a fifty-two week high of $15.11.

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In other Calpine Corporation news, Director Jack A. Fusco sold 949,525 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $14.72, for a total value of $13,977,008.00. Following the completion of the transaction, the director now directly owns 344,835 shares in the company, valued at $5,075,971.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jack A. Fusco sold 348,100 shares of the business’s 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 completion of the transaction, the director now directly owns 344,835 shares in the company, valued at approximately $5,079,419.55. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. TT International bought a new position in shares of Calpine Corporation in the third quarter worth about $4,425,000. Neuberger Berman Group LLC grew its holdings in shares of Calpine Corporation by 72.7% in the third quarter. Neuberger Berman Group LLC now owns 3,736,167 shares of the utilities provider’s stock worth $55,108,000 after purchasing an additional 1,572,395 shares during the last quarter. Green Square Capital LLC bought a new position in shares of Calpine Corporation in the third quarter worth about $283,000. California Public Employees Retirement System grew its holdings in shares of Calpine Corporation by 3.7% in the third quarter. California Public Employees Retirement System now owns 1,132,139 shares of the utilities provider’s stock worth $16,699,000 after purchasing an additional 40,599 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Calpine Corporation in the third quarter worth about $1,050,000. 95.80% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Calpine Corporation (NYSE:CPN)

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