Arrowstreet Capital Limited Partnership Raises Stake in Calpine Corporation (CPN)

Arrowstreet Capital Limited Partnership boosted its holdings in Calpine Corporation (NYSE:CPN) by 725.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 226,925 shares of the utilities provider’s stock after purchasing an additional 199,425 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.06% of Calpine Corporation worth $3,070,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Virtu KCG Holdings LLC boosted its holdings in Calpine Corporation by 1.6% in the second 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 period. Comerica Bank boosted its holdings in Calpine Corporation by 1.0% in the second quarter. Comerica Bank now owns 22,694 shares of the utilities provider’s stock worth $312,000 after purchasing an additional 230 shares during the period. M&T Bank Corp boosted its holdings in Calpine Corporation by 1.8% in the second quarter. M&T Bank Corp now owns 18,748 shares of the utilities provider’s stock worth $253,000 after purchasing an additional 334 shares during the period. Utah Retirement Systems boosted its holdings in shares of Calpine Corporation by 0.9% during the second quarter. Utah Retirement Systems now owns 65,779 shares of the utilities provider’s stock valued at $890,000 after acquiring an additional 600 shares during the period. Finally, Morningstar Investment Services LLC boosted its holdings in shares of Calpine Corporation by 12.1% during the second quarter. Morningstar Investment Services LLC now owns 15,021 shares of the utilities provider’s stock valued at $203,000 after acquiring an additional 1,620 shares during the period. 96.68% of the stock is owned by hedge funds and other institutional investors.



In other news, Director Jack A. Fusco sold 949,525 shares of the stock in a transaction on 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 sale, the director now owns 344,835 shares in the company, valued at $5,075,971.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack A. Fusco sold 348,100 shares of the stock in a transaction on 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 owns 344,835 shares in the company, valued at approximately $5,079,419.55. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Calpine Corporation from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. ValuEngine raised shares of Calpine Corporation from a “sell” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub downgraded shares of Calpine Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. BMO Capital Markets boosted their price target on shares of Calpine Corporation from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Monday, July 31st. Finally, Guggenheim downgraded shares of Calpine Corporation from a “buy” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $15.25 in a report on Monday, August 21st. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Calpine Corporation presently has an average rating of “Hold” and an average price target of $15.08.

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Shares of Calpine Corporation (CPN) traded down 0.07% during midday trading on Friday, hitting $14.91. 3,187,179 shares of the company were exchanged. The company’s 50 day moving average price is $14.77 and its 200 day moving average price is $13.45. Calpine Corporation has a one year low of $9.30 and a one year high of $14.95. The firm has a market cap of $5.38 billion, a P/E ratio of 112.11 and a beta of 1.02.

Calpine Corporation (NYSE:CPN) last announced its earnings results on Friday, July 28th. The utilities provider reported ($0.61) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.63). The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $1.15 billion. Calpine Corporation had a negative return on equity of 8.92% and a net margin of 0.57%. Calpine Corporation’s revenue for the quarter was up 79.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.06 EPS. Equities analysts expect that Calpine Corporation will post $0.24 EPS for the current year.

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.

Institutional Ownership by Quarter for Calpine Corporation (NYSE:CPN)

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