Calpine Corp. (NYSE:CPN) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 19,703,807 shares, a growth of 20.2% from the August 31st total of 16,390,105 shares. Currently, 5.6% of the shares of the company are sold short. Based on an average daily volume of 5,317,472 shares, the short-interest ratio is currently 3.7 days.
Shares of Calpine Corp. (NYSE:CPN) opened at 12.64 on Friday. The firm’s market capitalization is $4.54 billion. Calpine Corp. has a 52-week low of $11.53 and a 52-week high of $16.60. The stock has a 50 day moving average of $12.96 and a 200-day moving average of $14.18.
Calpine Corp. (NYSE:CPN) last posted its quarterly earnings data on Friday, July 29th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. The firm earned $1.16 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Calpine Corp. had a negative net margin of 0.02% and a positive return on equity of 10.79%. The company’s quarterly revenue was down 19.3% on a year-over-year basis. During the same quarter last year, the business posted $0.09 EPS. Equities analysts expect that Calpine Corp. will post $0.44 earnings per share for the current fiscal year.
In related news, Director Jack A. Fusco sold 54,600 shares of Calpine Corp. stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $15.00, for a total transaction of $819,000.00. Following the completion of the transaction, the director now owns 684,525 shares in the company, valued at $10,267,875. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack A. Fusco sold 24,800 shares of Calpine Corp. stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $14.75, for a total value of $365,800.00. Following the transaction, the director now owns 722,825 shares of the company’s stock, valued at approximately $10,661,668.75. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
A number of large investors have recently bought and sold shares of CPN. Goldentree Asset Management LP raised its stake in Calpine Corp. by 14.9% in the first quarter. Goldentree Asset Management LP now owns 5,715,155 shares of the company’s stock valued at $86,699,000 after buying an additional 740,080 shares during the period. State Street Corp raised its stake in Calpine Corp. by 2.5% in the first quarter. State Street Corp now owns 6,996,542 shares of the company’s stock valued at $106,128,000 after buying an additional 168,694 shares during the period. Renaissance Technologies LLC raised its stake in Calpine Corp. by 90.3% in the first quarter. Renaissance Technologies LLC now owns 2,567,700 shares of the company’s stock valued at $38,952,000 after buying an additional 1,218,600 shares during the period. Geode Capital Management LLC raised its stake in Calpine Corp. by 5.5% in the first quarter. Geode Capital Management LLC now owns 2,057,247 shares of the company’s stock valued at $31,190,000 after buying an additional 106,951 shares during the period. Finally, M&T Bank Corp purchased a new stake in Calpine Corp. during the first quarter valued at approximately $207,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.
A number of equities analysts recently commented on CPN shares. SunTrust Banks Inc. lifted their price target on Calpine Corp. from $13.00 to $14.00 in a report on Monday, August 29th. BMO Capital Markets reiterated a “buy” rating on shares of Calpine Corp. in a report on Wednesday, June 22nd. Deutsche Bank AG upgraded Calpine Corp. from a “hold” rating to a “buy” rating and lifted their price target for the stock from $18.00 to $20.00 in a report on Tuesday, July 26th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Calpine Corp. from a “sell” rating to a “hold” rating in a report on Friday, July 8th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $19.50.
About Calpine Corp.
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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