New York State Common Retirement Fund cut its stake in shares of Calpine Co. (NYSE:CPN) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 800,548 shares of the utilities provider’s stock after selling 21,255 shares during the quarter. New York State Common Retirement Fund owned 0.22% of Calpine worth $11,808,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of CPN. Russell Investments Group Ltd. lifted its holdings in Calpine by 56.7% in the second quarter. Russell Investments Group Ltd. now owns 202,132 shares of the utilities provider’s stock valued at $2,735,000 after acquiring an additional 73,153 shares during the period. Sei Investments Co. lifted its holdings in Calpine by 5.6% in the second quarter. Sei Investments Co. now owns 211,122 shares of the utilities provider’s stock valued at $2,857,000 after acquiring an additional 11,285 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Calpine by 15.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,485,288 shares of the utilities provider’s stock valued at $20,096,000 after acquiring an additional 195,975 shares during the period. Teacher Retirement System of Texas acquired a new stake in Calpine in the second quarter valued at $391,000. Finally, Wedbush Securities Inc. acquired a new stake in Calpine in the second quarter valued at $145,000. 85.85% of the stock is owned by hedge funds and other institutional investors.
CPN has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Calpine from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. SunTrust Banks reissued a “hold” rating and issued a $15.00 target price on shares of Calpine in a report on Friday, November 17th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $15.25 target price on shares of Calpine in a report on Monday, October 30th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Calpine currently has an average rating of “Hold” and an average target price of $15.08.
In other news, EVP W. Thaddeus Miller sold 177,627 shares of Calpine stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $15.12, for a total transaction of $2,685,720.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thad Hill sold 38,304 shares of Calpine stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $15.08, for a total value of $577,624.32. Following the transaction, the chief executive officer now directly owns 559,237 shares of the company’s stock, valued at approximately $8,433,293.96. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
Calpine Co. (CPN) remained flat at $$15.09 during trading hours on Thursday. The company’s stock had a trading volume of 8,453,890 shares, compared to its average volume of 9,120,674. The firm has a market cap of $5,440.00, a price-to-earnings ratio of -215.57, a P/E/G ratio of 2.90 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 1.10 and a debt-to-equity ratio of 3.39. Calpine Co. has a 1 year low of $9.30 and a 1 year high of $15.16.
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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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