Zacks Investment Research downgraded shares of Dynegy Inc. (NYSE:DYN) from a hold rating to a sell rating in a research note released on Tuesday morning.
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 analysts have also recently commented on DYN. BidaskClub upgraded Dynegy from a sell rating to a hold rating in a research report on Tuesday, June 27th. Barclays PLC reiterated a buy rating and set a $13.00 price objective on shares of Dynegy in a research report on Tuesday, July 25th. Deutsche Bank AG dropped their price objective on Dynegy from $11.00 to $10.00 and set a hold rating for the company in a research report on Monday, August 7th. Guggenheim reiterated a buy rating and set a $18.00 price objective (up previously from $14.00) on shares of Dynegy in a research report on Monday, August 21st. Finally, Royal Bank Of Canada reiterated a hold rating and set a $8.00 price objective on shares of Dynegy in a research report on Monday, September 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Dynegy currently has an average rating of Hold and an average price target of $11.00.
Dynegy (NYSE DYN) opened at 9.38 on Tuesday. Dynegy has a 12 month low of $5.84 and a 12 month high of $13.59. The stock’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 posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.61). The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $972.27 million. Dynegy had a negative return on equity of 12.97% and a negative net margin of 2.72%. On average, equities analysts forecast that Dynegy will post ($0.69) earnings per share for the current year.
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Institutional investors and hedge funds have recently bought and sold shares of the business. QCM Cayman Ltd. purchased a new stake in Dynegy in the 2nd quarter valued at about $100,000. Integral Derivatives LLC purchased a new stake in Dynegy in the 2nd quarter valued at about $102,000. Oppenheimer Asset Management Inc. purchased a new stake in Dynegy in the 1st quarter valued at about $115,000. Profund Advisors LLC grew its holdings in Dynegy by 20.2% in the 2nd quarter. Profund Advisors LLC now owns 15,801 shares of the utilities provider’s stock valued at $131,000 after buying an additional 2,655 shares during the period. Finally, Karp Capital Management Corp purchased a new stake in Dynegy in the 1st quarter valued at about $165,000.
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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