Calpine Corporation (NYSE:CPN) Downgraded by Goldman Sachs Group, Inc. (The) to “Neutral”

Calpine Corporation (NYSE:CPN) was downgraded by investment analysts at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, The Fly reports.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada set a $13.00 target price on shares of Calpine Corporation and gave the company a “buy” rating in a report on Saturday, June 3rd. Zacks Investment Research cut shares of Calpine Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. ValuEngine cut shares of Calpine Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. BidaskClub cut shares of Calpine Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, Citigroup Inc. set a $15.00 price target on shares of Calpine Corporation and gave the company a “buy” rating in a report on Thursday, May 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $14.67.

Shares of Calpine Corporation (CPN) opened at 13.42 on Monday. The firm has a market capitalization of $4.84 billion, a P/E ratio of 20.40 and a beta of 1.01. The stock has a 50 day moving average price of $13.23 and a 200 day moving average price of $11.72. Calpine Corporation has a 12 month low of $9.30 and a 12 month high of $15.12.

Calpine Corporation (NYSE:CPN) last issued its earnings results on Friday, April 28th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.15. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $1.16 billion. Calpine Corporation had a net margin of 3.17% and a negative return on equity of 1.59%. The firm’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.65) earnings per share. On average, analysts expect that Calpine Corporation will post $0.51 earnings per share for the current year.

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Hedge funds have recently bought and sold shares of the company. World Asset Management Inc raised its stake in Calpine Corporation by 0.5% in the first quarter. World Asset Management Inc now owns 18,500 shares of the utilities provider’s stock valued at $204,000 after buying an additional 87 shares in the last quarter. TD Asset Management Inc. raised its stake in Calpine Corporation by 0.5% in the first quarter. TD Asset Management Inc. now owns 55,535 shares of the utilities provider’s stock valued at $614,000 after buying an additional 300 shares in the last quarter. Comerica Bank raised its stake in Calpine Corporation by 1.9% in the first quarter. Comerica Bank now owns 22,464 shares of the utilities provider’s stock valued at $216,000 after buying an additional 422 shares in the last quarter. First Midwest Bank Trust Division raised its stake in Calpine Corporation by 1.7% in the first quarter. First Midwest Bank Trust Division now owns 59,000 shares of the utilities provider’s stock valued at $652,000 after buying an additional 1,000 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Calpine Corporation by 2.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 51,766 shares of the utilities provider’s stock valued at $572,000 after buying an additional 1,025 shares in the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.

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.

The Fly

Analyst Recommendations for Calpine Corporation (NYSE:CPN)

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