Calpine (CPN) Bond Prices Rise 1%

An issue of Calpine Co. (NYSE:CPN) debt rose 1% as a percentage of its face value during trading on Thursday. The high-yield issue of debt has a 5.5% coupon and is set to mature on February 1, 2024. The bonds in the issue are now trading at $92.45 and were trading at $89.75 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its share price.

CPN has been the subject of a number of research analyst reports. SunTrust Banks reaffirmed a “hold” rating on shares of Calpine in a research note on Wednesday, March 7th. ValuEngine raised shares of Calpine from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $14.96.

Calpine stock opened at $15.25 on Friday. Calpine Co. has a one year low of $9.30 and a one year high of $15.25. The company has a quick ratio of 0.96, a current ratio of 1.23 and a debt-to-equity ratio of 3.65.

Several institutional investors have recently bought and sold shares of CPN. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Calpine during the 4th quarter worth about $172,000. Jump Trading LLC acquired a new position in shares of Calpine during the 4th quarter worth about $186,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Calpine by 47.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,738 shares of the utilities provider’s stock worth $284,000 after buying an additional 6,051 shares during the last quarter. American International Group Inc. boosted its stake in shares of Calpine by 61.4% during the 4th quarter. American International Group Inc. now owns 19,761 shares of the utilities provider’s stock worth $299,000 after buying an additional 7,521 shares during the last quarter. Finally, DLD Asset Management LP acquired a new position in shares of Calpine during the 4th quarter worth about $378,000. Institutional investors own 78.35% of the company’s stock.

Calpine 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.

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