Dynegy (NYSE:DYN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.
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. “
Several other equities analysts have also recently commented on DYN. TheStreet upgraded shares of Dynegy from a “d+” rating to a “c-” rating in a research report on Friday, January 12th. SunTrust Banks set a $13.00 target price on shares of Dynegy and gave the company a “hold” rating in a research report on Monday. Morgan Stanley set a $15.00 target price on shares of Dynegy and gave the company a “buy” rating in a research report on Thursday, October 26th. Royal Bank of Canada restated a “hold” rating and issued a $8.00 target price on shares of Dynegy in a research report on Tuesday, October 10th. Finally, ValuEngine cut shares of Dynegy from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Dynegy has a consensus rating of “Hold” and a consensus price target of $13.01.
Dynegy (NYSE:DYN) last posted its quarterly earnings data on Wednesday, November 1st. The utilities provider reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($1.11). Dynegy had a negative net margin of 0.22% and a negative return on equity of 17.98%. research analysts forecast that Dynegy will post 1.33 earnings per share for the current fiscal year.
In related news, major shareholder Ecp Controlco, Llc sold 5,250,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $11.79, for a total transaction of $61,897,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in DYN. Solus Alternative Asset Management LP acquired a new position in Dynegy during the 2nd quarter worth approximately $24,997,000. Dimensional Fund Advisors LP increased its position in Dynegy by 58.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,907,332 shares of the utilities provider’s stock worth $48,854,000 after purchasing an additional 2,185,292 shares in the last quarter. Graticule Asia Macro Advisors LLC acquired a new position in Dynegy during the 3rd quarter worth approximately $11,326,000. Omni Partners LLP acquired a new position in Dynegy during the 4th quarter worth approximately $11,879,000. Finally, Empyrean Capital Partners LP increased its position in Dynegy by 227.6% during the 2nd quarter. Empyrean Capital Partners LP now owns 1,310,392 shares of the utilities provider’s stock worth $10,837,000 after purchasing an additional 910,392 shares in the last quarter.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Dynegy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dynegy and related companies with MarketBeat.com's FREE daily email newsletter.