KBC Group NV Decreases Stake in Calpine Co. (CPN)

KBC Group NV lowered its position in Calpine Co. (NYSE:CPN) by 11.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,243 shares of the utilities provider’s stock after selling 3,506 shares during the period. KBC Group NV’s holdings in Calpine were worth $402,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CPN. FMR LLC raised its position in shares of Calpine by 84.0% in the 2nd quarter. FMR LLC now owns 17,194,357 shares of the utilities provider’s stock worth $232,640,000 after acquiring an additional 7,847,491 shares in the last quarter. Omni Partners LLP bought a new position in shares of Calpine in the 3rd quarter worth approximately $66,375,000. Janus Henderson Group PLC raised its position in shares of Calpine by 6,067.9% in the 2nd quarter. Janus Henderson Group PLC now owns 2,953,618 shares of the utilities provider’s stock worth $39,962,000 after acquiring an additional 2,905,731 shares in the last quarter. P Schoenfeld Asset Management LP bought a new position in shares of Calpine in the 3rd quarter worth approximately $40,195,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Calpine by 15.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,393,188 shares of the utilities provider’s stock worth $127,091,000 after acquiring an additional 1,286,197 shares in the last quarter. 85.98% of the stock is owned by hedge funds and other institutional investors.

Shares of Calpine Co. (NYSE:CPN) opened at $15.07 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.10 and a debt-to-equity ratio of 3.39. Calpine Co. has a 52 week low of $9.30 and a 52 week high of $15.15.

In related news, CEO Thad Hill sold 38,304 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $15.08, for a total value of $577,624.32. Following the sale, the chief executive officer now owns 559,237 shares in the company, valued at approximately $8,433,293.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Several brokerages have recently issued reports on CPN. SunTrust Banks reissued a “hold” rating and issued a $15.00 target price on shares of Calpine in a research report on Friday, November 17th. Royal Bank of Canada reissued a “hold” rating and issued a $15.25 target price on shares of Calpine in a research report on Monday, October 30th. Guggenheim downgraded Calpine from a “buy” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $15.25 in a research note on Monday, August 21st. Zacks Investment Research downgraded Calpine from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Finally, Citigroup downgraded Calpine from a “buy” rating to a “neutral” rating and upped their price target for the stock from $15.00 to $15.25 in a research note on Friday, September 8th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $15.08.

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About Calpine

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.

Institutional Ownership by Quarter for Calpine (NYSE:CPN)

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