Mizuho Trust & Banking Co. Ltd. reduced its position in shares of Calpine Corp. (NYSE:CPN) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 541,662 shares of the company’s stock after selling 9,189 shares during the period. Mizuho Trust & Banking Co. Ltd. owned approximately 0.15% of Calpine Corp. worth $6,847,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strs Ohio raised its position in shares of Calpine Corp. by 11.0% in the second quarter. Strs Ohio now owns 7,271,000 shares of the company’s stock worth $107,247,000 after buying an additional 717,885 shares during the last quarter. Seven Bridges Advisors LLC purchased a new position in shares of Calpine Corp. during the second quarter worth approximately $102,000. Nuveen Asset Management LLC purchased a new position in shares of Calpine Corp. during the first quarter worth approximately $2,040,000. British Columbia Investment Management Corp raised its position in shares of Calpine Corp. by 47.2% in the second quarter. British Columbia Investment Management Corp now owns 68,584 shares of the company’s stock worth $1,012,000 after buying an additional 21,981 shares during the last quarter. Finally, Aviva PLC raised its position in shares of Calpine Corp. by 17.6% in the second quarter. Aviva PLC now owns 184,608 shares of the company’s stock worth $2,723,000 after buying an additional 27,602 shares during the last quarter. Institutional investors and hedge funds own 91.07% of the company’s stock.
Calpine Corp. (NYSE:CPN) traded up 1.13% during trading on Thursday, reaching $11.61. The company had a trading volume of 2,702,584 shares. Calpine Corp. has a 12-month low of $10.81 and a 12-month high of $16.49. The firm’s 50 day moving average price is $12.05 and its 200 day moving average price is $13.41. The firm has a market capitalization of $4.17 billion, a PE ratio of 232.20 and a beta of 0.99.
Calpine Corp. (NYSE:CPN) last issued its quarterly earnings results on Friday, October 28th. The company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.24. The company earned $2.36 billion during the quarter, compared to the consensus estimate of $2.14 billion. Calpine Corp. had a return on equity of 5.53% and a net margin of 0.32%. Calpine Corp.’s revenue was up 20.9% on a year-over-year basis. During the same period last year, the business posted $0.76 earnings per share. Analysts anticipate that Calpine Corp. will post $0.31 earnings per share for the current year.
CPN has been the subject of several recent analyst reports. Zacks Investment Research lowered Calpine Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 11th. SunTrust Banks Inc. dropped their price objective on Calpine Corp. from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, August 24th. Deutsche Bank AG reiterated a “buy” rating and set a $19.00 price objective (up from $17.00) on shares of Calpine Corp. in a research note on Monday, October 31st. Bank of America Corp. lowered Calpine Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday. Finally, BMO Capital Markets dropped their price objective on Calpine Corp. from $19.00 to $17.00 and set an “outperform” rating for the company in a research note on Monday, August 1st. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $18.56.
In other news, Director W Benjamin Moreland acquired 50,000 shares of Calpine Corp. stock in a transaction on Wednesday, November 2nd. The stock was acquired at an average cost of $11.08 per share, with a total value of $554,000.00. Following the completion of the acquisition, the director now owns 101,273 shares in the company, valued at $1,122,104.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.30% of the company’s stock.
About Calpine Corp.