Schwab Charles Investment Management Inc. Raises Holdings in Calpine Co. (CPN)

Schwab Charles Investment Management Inc. raised its position in Calpine Co. (NYSE:CPN) by 0.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,510,128 shares of the utilities provider’s stock after purchasing an additional 5,499 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Calpine were worth $22,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bank of Montreal Can grew its holdings in Calpine by 349.9% in the 4th quarter. Bank of Montreal Can now owns 691,416 shares of the utilities provider’s stock valued at $10,461,000 after buying an additional 537,727 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Calpine by 20.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 132,600 shares of the utilities provider’s stock valued at $2,006,000 after buying an additional 22,100 shares in the last quarter. Athos Capital Ltd acquired a new position in Calpine in the 3rd quarter valued at $1,623,000. GSA Capital Partners LLP acquired a new position in Calpine in the 3rd quarter valued at $236,000. Finally, TT International acquired a new position in Calpine in the 3rd quarter valued at $4,425,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CPN has been the topic of a number of research reports. Royal Bank of Canada reaffirmed a “hold” rating and issued a $15.25 price objective on shares of Calpine in a report on Monday, October 30th. SunTrust Banks reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Calpine in a report on Friday, November 17th. Finally, Zacks Investment Research raised Calpine from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Tuesday, December 19th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Calpine presently has an average rating of “Hold” and a consensus target price of $14.75.

Shares of Calpine Co. (CPN) opened at $15.16 on Friday. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.10 and a current ratio of 1.33. Calpine Co. has a 1 year low of $9.30 and a 1 year high of $15.18.

In other news, CEO Thad Hill sold 38,304 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was 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 directly owns 559,237 shares in the company, valued at approximately $8,433,293.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP W. Thaddeus Miller sold 177,627 shares of the company’s 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. Corporate insiders own 1.20% of the company’s stock.

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Calpine 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 (NYSE:CPN)

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