Wilbanks Smith & Thomas Asset Management LLC Reduces Position in Calpine Corporation (CPN)

Wilbanks Smith & Thomas Asset Management LLC cut its position in shares of Calpine Corporation (NYSE:CPN) by 11.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,803 shares of the utilities provider’s stock after selling 2,925 shares during the quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Calpine Corporation were worth $309,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPN. PNC Financial Services Group Inc. boosted its position in shares of Calpine Corporation by 47.2% during the second quarter. PNC Financial Services Group Inc. now owns 7,618 shares of the utilities provider’s stock valued at $102,000 after purchasing an additional 2,443 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Calpine Corporation by 85.0% during the first quarter. Nordea Investment Management AB now owns 9,935 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 4,565 shares in the last quarter. BB&T Securities LLC bought a new stake in shares of Calpine Corporation during the first quarter valued at approximately $134,000. Hourglass Capital LLC bought a new stake in shares of Calpine Corporation during the second quarter valued at approximately $135,000. Finally, Virtu KCG Holdings LLC boosted its position in shares of Calpine Corporation by 1.6% during the second quarter. Virtu KCG Holdings LLC now owns 10,636 shares of the utilities provider’s stock valued at $144,000 after purchasing an additional 167 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

Several research firms recently weighed in on CPN. Zacks Investment Research lowered Calpine Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub lowered Calpine Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. BMO Capital Markets restated a “buy” rating and set a $14.00 price target on shares of Calpine Corporation in a research report on Friday, July 28th. ValuEngine upgraded Calpine Corporation from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $15.00 price target on shares of Calpine Corporation in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $14.84.

Calpine Corporation (NYSE:CPN) last announced its quarterly earnings results on Friday, July 28th. The utilities provider reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.63). Calpine Corporation had a net margin of 0.57% and a negative return on equity of 8.92%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the business posted $0.06 earnings per share. The company’s revenue was up 79.0% compared to the same quarter last year.

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In other news, Director Jack A. Fusco sold 348,100 shares of Calpine Corporation stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $14.73, for a total value of $5,127,513.00. Following the transaction, the director now directly owns 344,835 shares in the company, valued at approximately $5,079,419.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jack A. Fusco sold 949,525 shares of Calpine Corporation stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $14.72, for a total value of $13,977,008.00. Following the completion of the transaction, the director now owns 344,835 shares in the company, valued at $5,075,971.20. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Calpine Corporation 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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Institutional Ownership by Quarter for Calpine Corporation (NYSE:CPN)

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