Parametric Portfolio Associates LLC reduced its holdings in Calpine Co. (NYSE:CPN) by 11.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,378,913 shares of the utilities provider’s stock after selling 181,575 shares during the period. Parametric Portfolio Associates LLC owned 0.38% of Calpine worth $20,339,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in Calpine by 47.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,618 shares of the utilities provider’s stock valued at $102,000 after buying an additional 2,443 shares during the last quarter. Virtu KCG Holdings LLC increased its stake in Calpine by 1.6% in the 2nd quarter. Virtu KCG Holdings LLC now owns 10,636 shares of the utilities provider’s stock valued at $144,000 after buying an additional 167 shares during the last quarter. Bfsg LLC acquired a new stake in Calpine in the 2nd quarter valued at $161,000. Gotham Asset Management LLC acquired a new stake in Calpine in the 2nd quarter valued at $162,000. Finally, GSA Capital Partners LLP acquired a new stake in Calpine in the 3rd quarter valued at $236,000. Hedge funds and other institutional investors own 85.85% of the company’s stock.
CPN has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Calpine from a “strong sell” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Friday, October 13th. 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. Royal Bank of Canada restated a “hold” rating and set a $15.25 price objective on shares of Calpine in a research note on Monday, October 30th. Citigroup lowered shares of Calpine from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $15.00 to $15.25 in a research note on Friday, September 8th. Finally, Macquarie lowered shares of Calpine from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 31st. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $15.08.
In related news, CEO Thad Hill sold 38,304 shares of Calpine 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 completion of the sale, the chief executive officer now owns 559,237 shares of the company’s stock, valued at approximately $8,433,293.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP W. Thaddeus Miller sold 177,627 shares of Calpine stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $15.12, for a total transaction of $2,685,720.24. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.
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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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