Cedar Hill Associates LLC trimmed its holdings in Calpine Co. (NYSE:CPN) by 18.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 527,405 shares of the utilities provider’s stock after selling 119,225 shares during the quarter. Cedar Hill Associates LLC owned about 0.15% of Calpine worth $7,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in shares of Calpine by 47.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,618 shares of the utilities provider’s stock worth $102,000 after acquiring an additional 2,443 shares in the last quarter. Hourglass Capital LLC bought a new position in shares of Calpine in the 2nd quarter worth about $135,000. Virtu KCG Holdings LLC increased its stake in shares of Calpine by 1.6% in the 2nd quarter. Virtu KCG Holdings LLC now owns 10,636 shares of the utilities provider’s stock worth $144,000 after acquiring an additional 167 shares in the last quarter. Wedbush Securities Inc. bought a new position in shares of Calpine in the 2nd quarter worth about $145,000. Finally, Bfsg LLC bought a new position in shares of Calpine in the 2nd quarter worth about $161,000. Institutional investors own 85.85% of the company’s stock.
Shares of Calpine Co. (NYSE:CPN) traded up $0.03 during midday trading on Tuesday, hitting $15.16. 4,019,000 shares of the stock were exchanged, compared to its average volume of 4,268,950. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.10 and a current ratio of 1.33. The stock has a market cap of $5,455.40, a P/E ratio of -216.54, a PEG ratio of 6.97 and a beta of 1.05. Calpine Co. has a 12-month low of $9.30 and a 12-month high of $15.16.
Several brokerages recently issued reports on CPN. Royal Bank of Canada reiterated a “hold” rating and issued a $15.25 price target on shares of Calpine in a research note on Monday, October 30th. Zacks Investment Research upgraded shares of Calpine from a “strong sell” rating to a “hold” rating in a research note on Monday, September 25th. Citigroup lowered shares of Calpine from a “buy” rating to a “neutral” rating and raised their price objective for the company from $15.00 to $15.25 in a research note on Friday, September 8th. Finally, SunTrust Banks restated a “hold” rating and set a $15.00 price objective on shares of Calpine in a research note on Friday, November 17th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $15.08.
In other news, EVP W. Thaddeus Miller sold 177,627 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $15.12, for a total transaction of $2,685,720.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Thad Hill sold 38,304 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $15.08, for a total transaction of $577,624.32. Following the sale, the chief executive officer now directly owns 559,237 shares in the company, valued at approximately $8,433,293.96. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
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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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