Dynegy Inc. (DYN) Sees Unusually-High Trading Volume
Dynegy Inc. (NYSE:DYN) saw an uptick in trading volume on Wednesday . 3,519,581 shares changed hands during mid-day trading, an increase of 6% from the previous session’s volume of 3,307,566 shares.The stock last traded at $16.59 and had previously closed at $16.80.
DYN has been the topic of a number of recent research reports. SunTrust Banks Inc. upgraded shares of Dynegy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $18.00 to $20.00 in a research note on Wednesday, June 29th. They noted that the move was a valuation call. Citigroup Inc. upgraded shares of Dynegy from a “neutral” rating to a “buy” rating and cut their price target for the stock from $21.00 to $19.00 in a research note on Wednesday, June 29th. Royal Bank Of Canada reiterated a “buy” rating on shares of Dynegy in a research note on Friday, June 17th. Deutsche Bank AG reiterated a “buy” rating and set a $21.00 price target on shares of Dynegy in a research note on Friday, June 17th. Finally, Barclays PLC boosted their price target on shares of Dynegy from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, May 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $28.38.
The firm has a market capitalization of $1.96 billion and a PE ratio of 10.50. The stock’s 50-day moving average price is $17.66 and its 200 day moving average price is $14.72.
Dynegy (NYSE:DYN) last released its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.33. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1,000 million. On average, analysts anticipate that Dynegy Inc. will post ($1.19) EPS for the current fiscal year.
A number of hedge funds and institutional investors have made changes to their positions in the company. Rhumbline Advisers raised its position in shares of Dynegy by 2.0% in the fourth quarter. Rhumbline Advisers now owns 172,357 shares of the company’s stock worth $2,310,000 after buying an additional 3,415 shares during the period. Victory Capital Management Inc. raised its position in shares of Dynegy by 9.4% in the fourth quarter. Victory Capital Management Inc. now owns 778,019 shares of the company’s stock worth $10,425,000 after buying an additional 66,780 shares during the period. Quantitative Investment Management LLC acquired a new position in shares of Dynegy during the fourth quarter worth about $2,260,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Dynegy by 21.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,345,119 shares of the company’s stock worth $18,020,000 after buying an additional 235,502 shares during the period.
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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