Rock Point Advisors LLC cut its stake in Calpine Corp. (NYSE:CPN) by 33.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 143,045 shares of the company’s stock after selling 72,780 shares during the period. Rock Point Advisors LLC’s holdings in Calpine Corp. were worth $2,110,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. BlackRock Inc. increased its stake in Calpine Corp. by 2.8% in the first quarter. BlackRock Inc. now owns 565,809 shares of the company’s stock valued at $8,584,000 after buying an additional 15,582 shares during the period. BlackRock Fund Advisors increased its stake in Calpine Corp. by 2.7% in the first quarter. BlackRock Fund Advisors now owns 3,798,521 shares of the company’s stock valued at $57,624,000 after buying an additional 99,533 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Calpine Corp. by 14.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 11,395,398 shares of the company’s stock valued at $172,868,000 after buying an additional 1,482,027 shares during the period. M&T Bank Corp bought a new stake in Calpine Corp. during the first quarter valued at approximately $207,000. Finally, Credit Agricole S A increased its stake in Calpine Corp. by 4.2% in the first quarter. Credit Agricole S A now owns 53,662 shares of the company’s stock valued at $814,000 after buying an additional 2,143 shares during the period. 92.67% of the stock is currently owned by institutional investors.
Calpine Corp. (NYSE:CPN) traded down 2.17% during mid-day trading on Monday, reaching $12.63. The company had a trading volume of 4,224,131 shares. Calpine Corp. has a 52 week low of $11.53 and a 52 week high of $16.60. The stock’s 50-day moving average price is $13.01 and its 200 day moving average price is $14.03. The firm’s market capitalization is $4.54 billion.
Calpine Corp. (NYSE:CPN) last announced its quarterly earnings results on Friday, July 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.06. Calpine Corp. had a negative net margin of 0.02% and a positive return on equity of 10.79%. The company earned $1.16 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the business posted $0.09 earnings per share. The company’s revenue was down 19.3% compared to the same quarter last year. On average, equities research analysts predict that Calpine Corp. will post $0.44 EPS for the current year.
CPN has been the topic of several analyst reports. Deutsche Bank AG raised Calpine Corp. from a “hold” rating to a “buy” rating and boosted their target price for the stock from $18.00 to $20.00 in a report on Tuesday, July 26th. They noted that the move was a valuation call. SunTrust Banks Inc. dropped their target price on Calpine Corp. from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, August 24th. Zacks Investment Research downgraded Calpine Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. Finally, BMO Capital Markets reissued a “buy” rating on shares of Calpine Corp. in a report on Wednesday, June 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. Calpine Corp. presently has an average rating of “Buy” and a consensus target price of $18.75.
About Calpine Corp.
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.