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Today Calpine (CPN) Hits New Lifetime High

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Calpine ( CPN) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Calpine as such a stock due to the following factors:

  • CPN has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $83.3 million.
  • CPN has traded 26,517 shares today.
  • CPN is trading at a new lifetime high.

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More details on CPN:

Calpine Corporation, a 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. CPN has a PE ratio of 86.9. Currently there are 5 analysts that rate Calpine a buy, no analysts rate it a sell, and 4 rate it a hold.

The average volume for Calpine has been 3.3 million shares per day over the past 30 days. Calpine has a market cap of $9.9 billion and is part of the utilities sector and utilities industry. The stock has a beta of 0.62 and a short float of 1.1% with 1.13 days to cover. Shares are up 20.9% year-to-date as of the close of trading on Tuesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Calpine as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, notable return on equity, increase in stock price during the past year and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

Highlights from the ratings report include:

  • CPN's very impressive revenue growth greatly exceeded the industry average of 24.4%. Since the same quarter one year prior, revenues leaped by 58.3%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Net operating cash flow has significantly increased by 178.34% to $123.00 million when compared to the same quarter last year. In addition, CALPINE CORP has also vastly surpassed the industry average cash flow growth rate of -11.08%.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Independent Power Producers & Energy Traders industry and the overall market on the basis of return on equity, CALPINE CORP has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.
  • Compared to where it was a year ago today, the stock is now trading at a higher level, reflecting both the market's overall trend during that period and the fact that the company's earnings growth has been robust. Looking ahead, the stock's rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that the other strengths this company displays justify these higher price levels.
  • CALPINE CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, CALPINE CORP reported lower earnings of $0.03 versus $0.45 in the prior year. This year, the market expects an improvement in earnings ($0.70 versus $0.03).

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