Calpine Corporation (CPN) Stock Rating Reaffirmed by Royal Bank Of Canada
Calpine Corporation (NYSE:CPN)‘s stock had its “hold” rating reiterated by analysts at Royal Bank Of Canada in a research note issued to investors on Monday. They currently have a $15.25 price objective on the utilities provider’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 2.07% from the stock’s previous close.
CPN has been the topic of several other research reports. Zacks Investment Research downgraded shares of Calpine Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub downgraded shares of Calpine Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. BMO Capital Markets restated a “buy” rating and issued a $14.00 target price on shares of Calpine Corporation in a research note on Friday, July 28th. ValuEngine upgraded shares of Calpine Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Finally, Citigroup Inc. set a $15.00 target price on shares of Calpine Corporation and gave the company a “buy” rating in a research note on Thursday, July 6th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Calpine Corporation currently has an average rating of “Hold” and a consensus price target of $15.08.
Shares of Calpine Corporation (NYSE CPN) opened at 14.94 on Monday. The company has a 50 day moving average of $14.80 and a 200-day moving average of $13.58. The firm has a market cap of $5.39 billion, a PE ratio of 112.33 and a beta of 1.02. Calpine Corporation has a 12-month low of $9.30 and a 12-month high of $14.95.
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In other Calpine Corporation news, Director Jack A. Fusco sold 949,525 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $14.72, for a total transaction of $13,977,008.00. Following the completion of the sale, the director now directly owns 344,835 shares of the company’s stock, valued at approximately $5,075,971.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack A. Fusco sold 348,100 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $14.73, for a total value of $5,127,513.00. Following the sale, the director now directly owns 344,835 shares of the company’s stock, valued at $5,079,419.55. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
Large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in Calpine Corporation by 47.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,618 shares of the utilities provider’s stock worth $102,000 after purchasing an additional 2,443 shares during the last quarter. Hourglass Capital LLC bought a new stake in Calpine Corporation during the 2nd quarter worth about $135,000. Virtu KCG Holdings LLC raised its holdings in Calpine Corporation by 1.6% during the 2nd quarter. Virtu KCG Holdings LLC now owns 10,636 shares of the utilities provider’s stock worth $144,000 after purchasing an additional 167 shares during the last quarter. Wedbush Securities Inc. bought a new stake in Calpine Corporation during the 2nd quarter worth about $145,000. Finally, Bfsg LLC bought a new stake in Calpine Corporation during the 2nd quarter worth about $161,000. 97.95% of the stock is owned by hedge funds and other institutional investors.
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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