There's a good chance CPN will meet the estimate. it's also interesting to note that if CPN only ran as a company on the 3rd quarter of each year and decided not to provide power to its customers in 15 states for the rest of the year...(ie. totally sut down).... It would still have a Price/Earnings of around 5 right now.
as far as I know they provided a range from $.40 - $.55 for Q3. $.46 would be fair enough but I guess it's more in the lower forties...depends on the non-strategic sales and their attribute to earnings