Calpine Co. (CPN) Rating Reiterated by Royal Bank of Canada
Calpine Co. (NYSE:CPN)‘s stock had its “buy” rating reaffirmed by analysts at Royal Bank of Canada in a report issued on Friday. They currently have a $14.00 price objective on the stock. Royal Bank of Canada’s target price points to a potential upside of 31.46% from the company’s current price.
A number of other brokerages have also recently weighed in on CPN. Barclays PLC raised their price objective on Calpine from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, January 20th. Bank of America Corp cut Calpine from a “buy” rating to a “neutral” rating in a report on Tuesday, November 22nd. Zacks Investment Research raised Calpine from a “strong sell” rating to a “hold” rating in a report on Thursday, February 16th. Finally, Morgan Stanley cut Calpine from an “overweight” rating to an “equal weight” rating and set a $13.00 price objective on the stock. in a report on Monday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Calpine presently has a consensus rating of “Buy” and an average price target of $16.25.
Shares of Calpine (NYSE:CPN) opened at 10.65 on Friday. The company has a 50-day moving average price of $11.44 and a 200 day moving average price of $11.96. The company has a market capitalization of $3.82 billion, a PE ratio of 40.96 and a beta of 1.05. Calpine has a one year low of $10.39 and a one year high of $16.07.
Calpine (NYSE:CPN) last announced its quarterly earnings data on Friday, February 10th. The company reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.25. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Calpine had a net margin of 1.37% and a negative return on equity of 1.31%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.13) earnings per share. Equities analysts anticipate that Calpine will post $0.50 EPS for the current year.
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Institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Calpine by 3.5% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 50,065 shares of the company’s stock worth $633,000 after buying an additional 1,699 shares during the period. Concert Wealth Management Inc. boosted its position in shares of Calpine by 2.1% in the third quarter. Concert Wealth Management Inc. now owns 10,735 shares of the company’s stock worth $136,000 after buying an additional 220 shares during the period. Strs Ohio boosted its position in shares of Calpine by 2.2% in the third quarter. Strs Ohio now owns 7,431,000 shares of the company’s stock worth $93,927,000 after buying an additional 160,000 shares during the period. Bourgeon Capital Management LLC bought a new position in shares of Calpine during the third quarter worth approximately $126,000. Finally, Miller Howard Investments Inc. NY boosted its position in shares of Calpine by 34.3% in the third quarter. Miller Howard Investments Inc. NY now owns 746,837 shares of the company’s stock worth $9,440,000 after buying an additional 190,915 shares during the period. 93.82% of the stock is currently owned by institutional investors and hedge funds.
Calpine 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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