Dynegy Inc. (DYN) Debt Trading 1.3% Higher

An issue of Dynegy Inc. (NYSE:DYN) debt rose 1.3% against its face value during trading on Monday. The high-yield issue of debt has a 8% coupon and will mature on January 15, 2025. The bonds in the issue are now trading at $105.25. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.

Several analysts have recently commented on the stock. Zacks Investment Research lowered shares of Dynegy from a “hold” rating to a “sell” rating in a research report on Tuesday. Royal Bank Of Canada restated a “hold” rating and set a $8.00 target price on shares of Dynegy in a research report on Tuesday. Guggenheim restated a “buy” rating and set a $18.00 target price (up previously from $14.00) on shares of Dynegy in a research report on Monday, August 21st. BidaskClub upgraded shares of Dynegy from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Finally, Deutsche Bank AG decreased their target price on shares of Dynegy from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Dynegy presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Shares of Dynegy Inc. (DYN) opened at 9.38 on Wednesday. Dynegy Inc. has a 12 month low of $5.84 and a 12 month high of $13.59. The company’s 50-day moving average is $9.48 and its 200-day moving average is $8.29. The firm’s market cap is $1.23 billion.

Dynegy (NYSE:DYN) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported ($0.83) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.61). Dynegy had a negative net margin of 2.72% and a negative return on equity of 12.97%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $972.27 million. On average, equities research analysts forecast that Dynegy Inc. will post ($0.69) earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Karp Capital Management Corp acquired a new stake in shares of Dynegy during the first quarter valued at approximately $165,000. Bank of Nova Scotia acquired a new stake in shares of Dynegy during the first quarter valued at approximately $7,781,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Dynegy during the second quarter valued at approximately $9,398,000. Systematic Financial Management LP acquired a new stake in shares of Dynegy during the second quarter valued at approximately $3,604,000. Finally, Brookfield Asset Management Inc. raised its holdings in shares of Dynegy by 9.1% during the first quarter. Brookfield Asset Management Inc. now owns 300,000 shares of the utilities provider’s stock valued at $2,358,000 after acquiring an additional 25,000 shares during the period.

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About Dynegy

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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