Bank of America Corp. cut shares of Calpine Corp. (NYSE:CPN) from a buy rating to a neutral rating in a report released on Tuesday.
A number of other research analysts also recently weighed in on the company. Deutsche Bank AG upgraded Calpine Corp. from a hold rating to a buy rating and lifted their price target for the company from $18.00 to $20.00 in a report on Tuesday, July 26th. They noted that the move was a valuation call. Zacks Investment Research raised Calpine Corp. from a sell rating to a hold rating in a research report on Wednesday, November 2nd. SunTrust Banks Inc. reduced their price objective on Calpine Corp. from $14.00 to $13.00 and set a neutral rating for the company in a research report on Wednesday, August 24th. Finally, BMO Capital Markets reduced their price objective on Calpine Corp. from $19.00 to $17.00 and set an outperform rating for the company in a research report on Monday, August 1st. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Calpine Corp. currently has a consensus rating of Buy and a consensus target price of $18.56.
Shares of Calpine Corp. (NYSE:CPN) opened at 11.61 on Tuesday. The firm’s 50-day moving average price is $12.05 and its 200-day moving average price is $13.41. Calpine Corp. has a 52 week low of $10.81 and a 52 week high of $16.49. The firm has a market cap of $4.17 billion, a price-to-earnings 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.24. Calpine Corp. had a return on equity of 5.53% and a net margin of 0.32%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. Calpine Corp.’s revenue for the quarter was up 20.9% compared to the same quarter last year. Equities research analysts expect that Calpine Corp. will post $0.31 EPS for the current fiscal year.
In related news, Director W Benjamin Moreland purchased 50,000 shares of Calpine Corp. stock in a transaction on Wednesday, November 2nd. The stock was bought at an average price of $11.08 per share, with a total value of $554,000.00. Following the completion of the transaction, the director now directly owns 101,273 shares of the company’s stock, valued at $1,122,104.84. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Seven Bridges Advisors LLC bought a new stake in shares of Calpine Corp. during the second quarter worth $102,000. Acrospire Investment Management LLC boosted its stake in shares of Calpine Corp. by 620.0% in the second quarter. Acrospire Investment Management LLC now owns 7,200 shares of the company’s stock worth $106,000 after buying an additional 6,200 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its stake in shares of Calpine Corp. by 8.9% in the third quarter. Independent Portfolio Consultants Inc. now owns 8,575 shares of the company’s stock worth $108,000 after buying an additional 700 shares in the last quarter. Bourgeon Capital Management LLC bought a new stake in shares of Calpine Corp. during the third quarter worth $126,000. Finally, Concert Wealth Management Inc. boosted its stake in shares of Calpine Corp. by 2.1% in the third quarter. Concert Wealth Management Inc. now owns 10,735 shares of the company’s stock worth $136,000 after buying an additional 220 shares in the last quarter. 91.07% of the stock is owned by institutional investors.
About Calpine Corp.