Andreas Halvorsen (Trades, Portfolio), a former protégé of hedge fund pioneer Julian Robertson (Trades, Portfolio), on June 23 doubled his stake in one of the largest power generators in the U.S., Calpine Corp. (NYSE:CPN), as lower natural gas prices spur natural gas-fired generation and are expected to continue.
The purchase consisted of 10,047,081 shares, increasing his stake by 95.8% to 20,540,332 shares, at an average price of $14. Halvorsen bought the position in the fourth quarter 2014 with 4,881,477 shares at an average price of $15 and increased it to 10,493,251 shares in the first quarter at an average price of $14. Calpine stock edged down 2% year to date and 20% for the past year. Thursday afternoon it is priced around $14.21. Continue Reading »