Calpine Corp (CPN): Today's Featured Utilities Loser
Calpine (CPN) pushed the Utilities sector lower today making it today's featured Utilities loser. The sector as a whole closed the day down 0.4%. By the end of trading, Calpine fell 65 cents (-3.5%) to $18.19 on heavy volume. Throughout the day, 6.5 million shares of Calpine exchanged hands as compared to its average daily volume of 3.6 million shares. The stock ranged in price between $18.08-$18.88 after having opened the day at $18.84 as compared to the previous trading day's close of $18.84. Other company's within the Utilities sector that declined today were: Ocean Power Technologies (OPTT), down 6.2%, NRG Energy (NRG), down 4.6%, Clean Energy Fuels Corporation (CLNE), down 4.5%, and GreenHunter Energy (GRH), down 4.4%. Calpine Corporation, an independent wholesale power generation company, owns and operates natural gas-fired and geothermal power plants in North America. It operates natural gas-fired combustion turbines and renewable geothermal conventional steam turbines, as well as cogeneration power plants. Calpine has a market cap of $9.05 billion and is part of the utilities industry. The company has a P/E ratio of 93.8, equal to the average utilities industry P/E ratio and above the S&P 500 P/E ratio of 17.7. Shares are up 15.4% year to date as of the close of trading on Thursday. Currently there are seven analysts that rate Calpine a buy, no analysts rate it a sell, and three rate it a hold. TheStreet Ratings rates Calpine as a sell. The company's weaknesses can be seen in multiple areas, such as its generally weak debt management, disappointing return on equity and poor profit margins.
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