Hotchkis Wiley Capital Management Lowers stake in Calpine Corporation (CPN)

Calpine Corporation (CPN) : Hotchkis Wiley Capital Management reduced its stake in Calpine Corporation by 3.04% during the most recent quarter end. The investment management company now holds a total of 38,759,340 shares of Calpine Corporation which is valued at $570.1 Million after selling 1,213,673 shares in Calpine Corporation , the firm said in a disclosure report filed with the SEC on May 13, 2016.Calpine Corporation makes up approximately 2.43% of Hotchkis Wiley Capital Management’s portfolio.

Other Hedge Funds, Including , Numeric Investors added CPN to its portfolio by purchasing 41,900 company shares during the most recent quarter which is valued at $640,232. Calpine Corporation makes up approx 0.01% of Numeric Investors’s portfolio.Swiss National Bank boosted its stake in CPN in the latest quarter, The investment management firm added 253,000 additional shares and now holds a total of 877,758 shares of Calpine Corporation which is valued at $13.4 Million. Calpine Corporation makes up approx 0.02% of Swiss National Bank’s portfolio.First Mercantile Trust Co boosted its stake in CPN in the latest quarter, The investment management firm added 135 additional shares and now holds a total of 67,941 shares of Calpine Corporation which is valued at $1.1 Million. Calpine Corporation makes up approx 0.13% of First Mercantile Trust Co’s portfolio. Alexandria Capital sold out all of its stake in CPN during the most recent quarter. The investment firm sold 1,250 shares of CPN which is valued $19,725.

Calpine Corporation closed down -0.44 points or -2.94% at $14.51 with 51,34,590 shares getting traded on Wednesday. Post opening the session at $14.46, the shares hit an intraday low of $14.25 and an intraday high of $14.78 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Calpine Corporation reported $-0.65 EPS for the quarter, missing the analyst consensus estimate by $ -0.50 based on the information available during the earnings call on Apr 29, 2016. Analyst had a consensus of $-0.15. The company had revenue of $1615.00 million for the quarter, compared to analysts expectations of $1034.23 million. The company’s revenue was down -1.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.03 EPS.

Many Wall Street Analysts have commented on Calpine Corporation. Calpine Corporation was Downgraded by Argus to ” Hold” on Mar 8, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 16, 2016 to “Outperform” and Lowered the Price Target to $ 20 from a previous price target of $21 .

Calpine Corporation (Calpine) is a wholesale power generator. The Company owns and operates natural gas-fired and geothermal power plants in North America. It sells wholesale power steam capacity renewable energy credits and ancillary services to its customers which include utilities independent electric system operators industrial and agricultural companies retail power providers municipalities power marketers and others. Its segments are West (including geothermal) Texas and East (including Canada). The Company’s portfolio consists of two types of power generation technologies: natural gas-fired combustion turbines which are primarily combined-cycle plants and renewable geothermal conventional steam turbines. It is also an owner and operator of industrial gas turbines as well as cogeneration power plants. It owns 88 power plants including one under construction plant with an aggregate generation capacity of 26548 megawatt (MW) and 309 MW under construction.

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