Clearbridge buys $115,119,223 stake in Calpine Corporation (CPN)

Calpine Corporation (CPN) : Clearbridge scooped up 231,570 additional shares in Calpine Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 9,941,211 shares of Calpine Corporation which is valued at $115,119,223.Calpine Corporation makes up approximately 2.15% of Clearbridge’s portfolio.

Other Hedge Funds, Including , Alliancebernstein boosted its stake in CPN in the latest quarter, The investment management firm added 6,634 additional shares and now holds a total of 279,223 shares of Calpine Corporation which is valued at $3,127,298. Ncm Capital Advisers sold out all of its stake in CPN during the most recent quarter. The investment firm sold 386 shares of CPN which is valued $4,427.California Public Employees Retirement System reduced its stake in CPN by selling 2,800 shares or 0.27% in the most recent quarter. The Hedge Fund company now holds 1,045,340 shares of CPN which is valued at $12,983,123. Calpine Corporation makes up approx 0.02% of California Public Employees Retirement System’s portfolio.

Calpine Corporation closed down -0.22 points or -1.86% at $11.63 with 19,07,879 shares getting traded on Monday. Post opening the session at $11.84, the shares hit an intraday low of $11.62 and an intraday high of $11.88 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Calpine Corporation reported $0.83 EPS for the quarter, beating the analyst consensus estimate by $ 0.24 according to the earnings call on Oct 28, 2016. Analyst had a consensus of $0.59. The company had revenue of $2355.00 million for the quarter, compared to analysts expectations of $1612.32 million. The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS.

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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