Bank of Montreal Can increased its position in shares of Calpine Co. (NYSE:CPN) by 349.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 691,416 shares of the utilities provider’s stock after buying an additional 537,727 shares during the quarter. Bank of Montreal Can owned about 0.19% of Calpine worth $10,461,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in CPN. Principal Financial Group Inc. raised its holdings in Calpine by 15.8% during the second quarter. Principal Financial Group Inc. now owns 50,423 shares of the utilities provider’s stock worth $682,000 after purchasing an additional 6,869 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Calpine by 11.7% in the second quarter. Wells Fargo & Company MN now owns 716,402 shares of the utilities provider’s stock worth $9,693,000 after acquiring an additional 75,201 shares during the last quarter. Teachers Advisors LLC grew its position in shares of Calpine by 0.3% in the second quarter. Teachers Advisors LLC now owns 843,383 shares of the utilities provider’s stock valued at $11,411,000 after purchasing an additional 2,487 shares during the period. Nationwide Fund Advisors grew its position in shares of Calpine by 194.5% in the second quarter. Nationwide Fund Advisors now owns 130,766 shares of the utilities provider’s stock valued at $1,769,000 after purchasing an additional 86,369 shares during the period. Finally, Profund Advisors LLC grew its position in shares of Calpine by 39.0% in the second quarter. Profund Advisors LLC now owns 33,688 shares of the utilities provider’s stock valued at $456,000 after purchasing an additional 9,458 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.
Calpine Co. (CPN) opened at $15.07 on Wednesday. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.33 and a quick ratio of 1.10. The stock has a market capitalization of $5,430.00, a P/E ratio of -215.29, a P/E/G ratio of 2.70 and a beta of 0.96. Calpine Co. has a fifty-two week low of $9.30 and a fifty-two week high of $15.16.
CPN has been the subject of a number of recent analyst reports. Zacks Investment Research raised Calpine from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Tuesday, December 19th. SunTrust Banks reaffirmed a “hold” rating and issued a $15.00 target price on shares of Calpine in a research report on Friday, November 17th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $15.25 target price on shares of Calpine in a research report on Monday, October 30th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $14.75.
In other news, CEO Thad Hill sold 38,304 shares of the 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 completion of the sale, the chief executive officer now owns 559,237 shares in the company, valued at $8,433,293.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP W. Thaddeus Miller sold 177,627 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $15.12, for a total value of $2,685,720.24. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
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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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