Farmhouse Investment Management LLC cut its position in shares of Calpine Corporation (NYSE:CPN) by 7.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 829,000 shares of the utilities provider’s stock after selling 62,500 shares during the period. Calpine Corporation makes up approximately 5.3% of Farmhouse Investment Management LLC’s holdings, making the stock its 8th largest position. Farmhouse Investment Management LLC owned 0.23% of Calpine Corporation worth $11,216,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CPN. Nordea Investment Management AB raised its position in shares of 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. raised its position in shares of 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 purchased a new position in shares of Calpine Corporation during the first quarter worth $134,000. Eagle Global Advisors LLC purchased a new position in shares of Calpine Corporation during the second quarter worth $172,000. Finally, Morningstar Investment Services LLC purchased a new position in shares of Calpine Corporation during the first quarter worth $148,000. 90.16% of the stock is currently owned by institutional investors and hedge funds.
Calpine Corporation (CPN) traded up 10.52% during midday trading on Friday, reaching $14.92. The company’s stock had a trading volume of 123,138,975 shares. The firm’s 50-day moving average price is $13.90 and its 200-day moving average price is $12.26. Calpine Corporation has a 52 week low of $9.30 and a 52 week high of $14.93. The stock has a market capitalization of $5.38 billion, a PE ratio of 112.18 and a beta of 1.02.
Calpine Corporation (NYSE:CPN) last posted its earnings results on Friday, July 28th. The utilities provider reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by $0.63. Calpine Corporation had a net margin of 0.57% and a negative return on equity of 8.92%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company posted $0.06 EPS. Calpine Corporation’s quarterly revenue was up 79.0% compared to the same quarter last year. On average, analysts anticipate that Calpine Corporation will post $0.53 earnings per share for the current year.
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A number of brokerages have recently weighed in on CPN. BidaskClub lowered Calpine Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Royal Bank Of Canada set a $13.00 price objective on Calpine Corporation and gave the company a “buy” rating in a report on Saturday, June 3rd. ValuEngine raised Calpine Corporation from a “sell” rating to a “hold” rating in a report on Friday, July 28th. BMO Capital Markets upped their target price on Calpine Corporation from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research upgraded Calpine Corporation from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Monday, June 26th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $14.80.
About Calpine Corporation
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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