Dynegy Inc. (NYSE:DYN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Dynegy Inc. provides wholesale power, capacity and ancillary services to utilities, cooperatives, municipalities and other energy companies in six states in U.S. regions of the Midwest, the Northeast and the West Coast. It operates in three segments: the Coal segment, the Gas Segment and the Dynegy Northeast Segment. Dynegy Inc. is headquartered in Houston, Texas. “
A number of other research firms have also commented on DYN. Deutsche Bank AG reaffirmed a “buy” rating and set a $21.00 price target on shares of Dynegy in a research report on Friday, June 17th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Dynegy in a research report on Friday, June 17th. SunTrust Banks Inc. raised Dynegy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $18.00 to $20.00 in a research report on Wednesday, June 29th. They noted that the move was a valuation call. Citigroup Inc. raised Dynegy from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $21.00 to $19.00 in a research report on Wednesday, June 29th. Finally, Wolfe Research lowered Dynegy from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 13th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $24.00.
Shares of Dynegy (NYSE:DYN) opened at 12.61 on Wednesday. Dynegy has a 12 month low of $7.20 and a 12 month high of $23.79. The company’s market cap is $1.48 billion. The firm’s 50-day moving average price is $12.81 and its 200-day moving average price is $15.54.
Dynegy (NYSE:DYN) last released its earnings results on Wednesday, August 3rd. The company reported ($6.73) earnings per share for the quarter, missing the consensus estimate of ($0.50) by $6.23. Dynegy had a negative net margin of 22.67% and a negative return on equity of 11.83%. Equities analysts predict that Dynegy will post ($1.87) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its position in Dynegy by 93.4% in the third quarter. BNP Paribas Arbitrage SA now owns 10,647 shares of the company’s stock worth $129,000 after buying an additional 5,143 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Dynegy by 14.9% in the second quarter. Public Employees Retirement System of Ohio now owns 7,615 shares of the company’s stock worth $131,000 after buying an additional 987 shares in the last quarter. Sterling Capital Management LLC bought a new position in Dynegy during the second quarter worth $581,000. Legal & General Group Plc increased its position in Dynegy by 78.6% in the second quarter. Legal & General Group Plc now owns 116,430 shares of the company’s stock worth $1,999,000 after buying an additional 51,241 shares in the last quarter. Finally, Numeric Investors LLC bought a new position in Dynegy during the second quarter worth $4,315,000.
Dynegy Company Profile
Dynegy Inc (Dynegy) is a holding company and conducts the business operations through its subsidiaries. The primary business of Dynegy is the production and sale of electric energy, capacity and ancillary services from the fleet of 18 operating power plants in six states totaling approximately 12,300 megawatt (MW) of generating capacity.
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