Todays Report: The Westpac Banking Corp reaches $367,000 position of Calpine Corp. (CPN)

The Westpac Banking Corp reaches $367,000 position  of Calpine Corp. (CPN)

Westpac Banking Corp raised its position in shares of Calpine Corp. (NYSE:CPN) by 22.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 24,875 shares of the company’s stock after buying an additional 4,563 shares during the period. Westpac Banking Corp’s holdings in Calpine Corp. were worth $367,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sound Shore Management Inc. CT acquired a new stake in Calpine Corp. during the second quarter worth $146,310,000. Bank of New York Mellon Corp raised its position in shares of Calpine Corp. by 58.6% in the second quarter. Bank of New York Mellon Corp now owns 9,102,691 shares of the company’s stock valued at $134,266,000 after buying an additional 3,364,508 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Calpine Corp. by 95.8% in the second quarter. Neuberger Berman Group LLC now owns 3,235,728 shares of the company’s stock valued at $47,727,000 after buying an additional 1,583,276 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of 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 last quarter. Finally, CI Investments Inc. purchased a new position in shares of Calpine Corp. during the second quarter valued at about $21,302,000. Institutional investors own 92.67% of the company’s stock.

Shares of Calpine Corp. (NYSE:CPN) opened at 12.55 on Friday. The company has a 50-day moving average of $12.92 and a 200-day moving average of $14.10. Calpine Corp. has a 12 month low of $11.53 and a 12 month high of $16.60. The firm’s market cap is $4.51 billion.

Calpine Corp. (NYSE:CPN) last issued its quarterly earnings data on Friday, July 29th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.06. Calpine Corp. had a positive return on equity of 10.79% and a negative net margin of 0.02%. The firm earned $1.16 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the firm earned $0.09 EPS. The business’s quarterly revenue was down 19.3% compared to the same quarter last year. Equities analysts forecast that Calpine Corp. will post $0.44 EPS for the current fiscal year.

Several equities analysts have issued reports on CPN shares. SunTrust Banks Inc. dropped their price objective 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 lowered Calpine Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. BMO Capital Markets dropped their price objective on Calpine Corp. from $19.00 to $17.00 and set an “outperform” rating on the stock in a report on Monday, August 1st. Finally, Deutsche Bank AG raised Calpine Corp. from a “hold” rating to a “buy” rating and raised their price objective 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. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $18.75.

In other news, Director Jack A. Fusco sold 24,800 shares of the company’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $14.75, for a total value of $365,800.00. Following the sale, the director now owns 722,825 shares in the company, valued at approximately $10,661,668.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jack A. Fusco sold 54,600 shares of the company’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $15.00, for a total transaction of $819,000.00. Following the completion of the sale, the director now owns 684,525 shares in the company, valued at approximately $10,267,875. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Calpine Corp. 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.

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