Morgan Stanley Downgrades Calpine Corporation to Equal-Weight

Brokerage firm Morgan Stanley Downgrades its rating on Calpine Corporation(CPN). The shares have been rated Equal-Weight. Previously, the analysts had a Overweight rating on the shares. The rating by Morgan Stanley was issued on Feb 6, 2017.

Calpine Corporation (CPN) shares turned negative on Tuesdays trading session with the shares closing down -0.02 points or -0.18% at a volume of 39,34,286. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $11.14. The peak price level was also seen at $11.14 while the days lowest was $11.01. Finally the shares closed at $11.1. The 52-week high of the shares is $16.07 while the 52-week low is $10.39. According to the latest information available, the market cap of the company is $3,986 M.

Calpine Corporation(CPN) last announced its earnings results on Oct 28, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $2.35B. Analysts had an estimated revenue of $1.95B. Earnings per share were $0.52. The reported EPS was above estimates by $0.12 or NaN%. Analysts had estimated an EPS of $0.64.

Several Insider Transactions has been reported to the SEC. On Nov 3, 2016, W Benjamin Moreland (director) purchased 50,000 shares at $11.08 per share price.Also, On Jul 14, 2016, Jack A Fusco (director) sold 54,600 shares at $15.02 per share price.On Nov 12, 2015, Iii, W. G. Griggs, (EVP & Chief Commercial Officer) purchased 15,000 shares at $14.75 per share price, according to the Form-4 filing with the securities and exchange commission.

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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