NWQ Investment Management Company LLC cut its holdings in Calpine Co. (NYSE:CPN) by 99.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,193 shares of the utilities provider’s stock after selling 5,283,172 shares during the quarter. NWQ Investment Management Company LLC’s holdings in Calpine were worth $726,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Aviva PLC increased its stake in Calpine by 18.9% in the second quarter. Aviva PLC now owns 227,447 shares of the utilities provider’s stock valued at $3,077,000 after purchasing an additional 36,120 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Calpine in the second quarter valued at $9,242,000. IndexIQ Advisors LLC acquired a new position in Calpine in the third quarter valued at $14,516,000. Gamco Investors INC. ET AL acquired a new position in shares of Calpine during the third quarter worth about $3,022,000. Finally, Commonwealth Bank of Australia increased its stake in shares of Calpine by 20.0% during the second quarter. Commonwealth Bank of Australia now owns 110,622 shares of the utilities provider’s stock worth $1,496,000 after acquiring an additional 18,400 shares during the period. Institutional investors own 85.98% of the company’s stock.
A number of research analysts have recently issued reports on the stock. SunTrust Banks reiterated a “hold” rating and set a $15.00 price target on shares of Calpine in a research note on Friday, November 17th. Royal Bank Of Canada reissued a “hold” rating and set a $15.25 price objective on shares of Calpine in a report on Monday, October 30th. Guggenheim downgraded shares of Calpine from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $20.00 to $15.25 in a report on Monday, August 21st. Zacks Investment Research downgraded shares of Calpine from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Finally, Citigroup downgraded 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 report on Friday, September 8th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $15.08.
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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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