Calpine Corporation (NYSE:CPN) had its price target upped by BMO Capital Markets from $14.00 to $16.00 in a research note issued to investors on Monday morning. BMO Capital Markets currently has an outperform rating on the utilities provider’s stock.
Several other research analysts also recently issued reports on the stock. ValuEngine upgraded shares of Calpine Corporation from a sell rating to a hold rating in a report on Friday, July 28th. Royal Bank Of Canada reiterated a buy rating and set a $15.00 price target on shares of Calpine Corporation in a report on Monday, July 24th. BidaskClub upgraded shares of Calpine Corporation from a sell rating to a hold rating in a report on Thursday, July 13th. Zacks Investment Research downgraded shares of Calpine Corporation from a strong-buy rating to a hold rating in a report on Wednesday, July 12th. Finally, Morgan Stanley set a $11.00 price target on shares of Calpine Corporation and gave the stock a hold rating in a report on Tuesday, July 11th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $14.80.
Calpine Corporation (NYSE CPN) traded up 0.56% during midday trading on Monday, hitting $14.28. The stock had a trading volume of 836,942 shares. Calpine Corporation has a 1-year low of $9.30 and a 1-year high of $14.76. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 107.37 and a beta of 1.02. The company has a 50-day moving average of $13.73 and a 200-day moving average of $12.07.
Calpine Corporation (NYSE:CPN) last announced its quarterly earnings results on Friday, July 28th. The utilities provider reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.63. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.15 billion. Calpine Corporation had a negative return on equity of 8.92% and a net margin of 0.57%. The firm’s quarterly revenue was up 79.0% on a year-over-year basis. During the same quarter last year, the company posted $0.06 earnings per share. Equities research analysts forecast that Calpine Corporation will post $0.54 EPS for the current year.
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Hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB increased its stake in Calpine Corporation by 85.0% in the first quarter. Nordea Investment Management AB now owns 9,935 shares of the utilities provider’s stock worth $110,000 after buying an additional 4,565 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Calpine Corporation by 20.7% in the first quarter. Advisors Asset Management Inc. now owns 10,106 shares of the utilities provider’s stock worth $112,000 after buying an additional 1,732 shares in the last quarter. BB&T Securities LLC bought a new stake in Calpine Corporation during the first quarter worth about $134,000. Wedbush Securities Inc. acquired a new stake in Calpine Corporation during the second quarter valued at $145,000. Finally, Morningstar Investment Services LLC acquired a new stake in Calpine Corporation during the first quarter valued at $148,000. 93.17% of the stock is 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.
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