An issue of Calpine Co. (NYSE:CPN) debt rose 1.5% against its face value during trading on Wednesday. The high-yield issue of debt has a 5.75% coupon and will mature on January 15, 2025. The debt is now trading at $90.75 and was trading at $89.75 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.
A number of brokerages have weighed in on CPN. SunTrust Banks reiterated a “hold” rating on shares of Calpine in a research report on Wednesday, March 7th. ValuEngine upgraded shares of Calpine from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Calpine presently has an average rating of “Hold” and an average price target of $14.96.
Shares of Calpine stock opened at $15.25 on Thursday. Calpine Co. has a fifty-two week low of $9.30 and a fifty-two week high of $15.25. The company has a debt-to-equity ratio of 3.65, a current ratio of 1.23 and a quick ratio of 0.96.
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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